Among items on which GST was reduced include footwear, small televisions, water heater, electric ironing machines, refrigerators, lithium ion batteries, hair dryers, vacuum cleaners, food appliances and ethanol.
"GST Council cuts tax rate on an array of products. Rakhis have been exempted from GST, tax on ethanol has been cut to 5 per cent, small handicrafts have been exempted," Goyal said.
Besides, tax rates on worked up Kota stone, sand stone and similar quality of local stones were cut from 18 to 12 per cent, with the purpose of avoiding classification disputes.
The value limit of footwear was enhanced from Rs 500 to Rs 1,000 for 5 per cent rate.? GST on 17 items used by middle class viz Paints, Refrigerators, washing machines, vacuum cleaners, storage water heaters, TVs up to 68 cm was reduced from 28 to 18 per cent.
The next GST Council meeting will be held on August 4.
Sanitary napkins exempted from GST
GST Council cuts tax rate on an array of products; small handicrafts exempted
Rakhis exempted from GST, tax on ethanol cut to 5 per cent
Footwear up to Rs 1,000 will now attract 5 per cent GST
GST on mixer grinder, perfumes, cosmetics, shavers, water heaters, vacuum cleaner reduced from 28 per cent to 18 per cent
Businesses with turn over of up to Rs 50 million can file quarterly returns; this will benefit 93 per cent taxpayers
Reverse charge mechanism deferred by a year to September 30, 2019
New tax rates will be effective from July 27