Today, September 3, the GST Council approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22. It is reported that the 56th meeting of the GST Council lasted for about 10.5 hours, during which the Centre and states thrashed out key tax proposals. After the 56th GST Council meeting, Union Finance Minister Nirmala Sitharaman announced significant reductions in GST rates. She said the move will provide relief to the common man and the middle class. As per the announcement, items on which GST has been reduced to 5 per cent include hair oil, toilet soap, soap bars, shampoos, toothbrushes, toothpaste, bicycles, tableware, kitchenware, and other household articles. On the other hand, items on which GST has been reduced to zero from the existing five per cent include Ultra-high temperature milk, chena and paneer. "All the Indian breads will see a nil rate. So roti or paratha or whatever it is, they all come to nil," Sitharaman said. Food items such as namkeen, bujjiya, sauces, pasta, instant noodles, chocolates, coffee, preserved meat, cornflakes, butter, and ghee have been included in the five per cent GST bracket. Finance Minister Nirmala Sitharaman further said that items whose GST has been reduced to 18 per cent from 28 per cent include air conditioning machines, TVs, dishwashing machines, small cars, and motorcycles equal to or less than 350 cc.

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