New GST rates out: Pay less for car parts

In a relief to the common man, the GST Council Saturday cut rates on 23 commonly used goods and services, including auto parts, TV screens, movie tickets and power banks. The annual revenue implication of the rate cuts would be Rs 5,500 crore, Finance Minister Arun Jaitley said. 

The council rationalised the 28 per cent slab by bringing down the tax rate on seven items in the highest tax bracket, thereby leaving only 28 items in the slab.