New Delhi, December 20: Congress president Rahul Gandhi credited his party for lowering of Goods and Services Tax (GST) rates on various household items. Gandhi took a jibe at Prime Minister Narendra Modi through his tweet. He termed GST as ‘Gabbar Singh Tax’. The Congress president tweeted, “The Congress Party has finally jolted Narendra Ji from his deep slumber on Gabbar Singh Tax. Though still drowsy, he now wants to implement what he had earlier called the Congress Party’s, “Grand Stupid Thought”. Better late then never Narendra Ji.” Rahul Gandhi on Farm Loan Waiver: We Completed the Task in Just 6 Hours, Won’t Let Modi Sleep Until All Farmers' Loans Waived.

Yesterday, the Prime Minister Narendra Modi vowed to lower GST on 99 percent items and to include them in 18 per cent or less tax slab. Meanwhile, the finance ministry lowered the GST on various household items including televisions, refrigerators and various other home appliances dropped from 31 per cent to 18 percent. The GST rates are also lowered on air-conditioners and automobiles. A Finance Ministry analysis of GST rates showed only 34 luxury and sin goods are left in the top 28 per cent bracket and even they had seen a reduction in effective tax post implementation of GST from July 1, 2017.

The GST has five tax slabs of 0, 5, 12, 18 and 28 per cent with daily essential items attracting 'nil' tax rates and some white goods, apart from luxury and sin items, placed at the highest tax rate. The analysis showed tax incidence under GST, which amalgamated 17 central and state levies including excise duty and sales tax, on households items like television sets of up to 27 inches, refrigerators, washing machine, household electrical appliances such as mixer, juice and vacuum cleaner, geyser, fans and coolers and watches came down from 31.3 per cent pre-GST to 18 per cent. GST on mobiles has also been lowered.

(The above story first appeared on LatestLY on Dec 20, 2018 02:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).