Movie tickets costing Rs 100 and below will now attract 18% tax, as against 28% proposed earlier, while those above Rs 100 will continue to attract 28% GST. Also, tax rates on cashew nuts have been cut to 5% from 12%. The Council also lowered GST rates on children's drawing books to nil from 12%. GST on insulin and agarbatti has also been lowered to 5%, while school bags will attract tax of 18%. "GST Council has reduced tax rates of 66 items as against representations received for 133 items," Finance Minister Arun Jaitley told reporters here after the 16th meeting of the GST Council.

Source: dna June 11, 2017 11:03 UTC