You want know GST % for items ? Here is the list

29 Jun 2017 4:52 PM | General
592 Report

The Goods and Services Tax (GST) Council decided to revise tax rates on 66 products after it received representations on 133 items. With not even three weeks left for implementation of GST, India’s biggest tax reform, there still seems to be a lot of uncertainty over the manner in which it will be implemented. Several sections of the industry are still demanding lower tax rates for their items.

Here’s a breakdown of the important items in various tax slabs, after the latest round of changes.

Nil Tax

No tax will be imposed on items like salt, palmyra jaggery, hulled cereal grains, kajal (other than kajal pencil sticks), children’s’ picture, drawing or colouring books, muddhas made of sarkanda and phool bahari jhadoo, jute, fresh meat, fish, chicken, eggs, milk, buttermilk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, prasad, salt, bindi, sindoor, stamps, judicial papers, printed books, newspapers, bangles, handloom, hotels and lodges with tariff below Rs 1,000.

3% Tax

Gold will be taxed at the rate of 3%, which is lower than the lowest slab of 5% under the new GST regime and is closer to the current tax incidence of about 2%.

5% Tax

Items such as cashew nut, raisin, biogas, insulin, agarbatti, kites, coir mats, matting and floor covering, postage or revenue stamps, hearing aids, fish fillet, apparel below Rs 1,000, packaged food items, footwear below Rs 500, cream, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea, spices, pizza bread, rusk, sabudana, kerosene, coal, medicines, stent, lifeboats, transport services (railways, air transport), small restaurants will be under the 5% category.

12% Tax

All diagnostic kits and reagents, exercise books and notebooks, glasses for corrective spectacles, spoons, forks, fish knives, tongs, fixed speed diesel engines, two-way radio (walkie-talkie) used by defence, police and paramilitary forces etc., corrective spectacles, intraocular lens, playing cards, chess board, carom board and other board games, like ludo, etc., apparel above Rs 1,000, frozen meat products, butter, cheese, ghee, dry fruits in packaged form, animal fat, sausage, fruit juices, namkeen, Ayurvedic medicines, tooth powder, agarbatti, colouring books, picture books, umbrella, sewing machine, cell phones, non-AC hotels, business class air ticket, fertilisers, work contracts will fall under 12 percent GST tax slab.

18% Tax

Aluminium foil, curry paste; mayonnaise and salad dressings; mixed condiments and mixed seasonings, kajal pencil sticks, dental wax, school bags (other than leather or composition leather), precast concrete pipes, tractor rear tyres, tubes and wheel rim, printers [other than multifunction printers], Ball bearing, Roller Bearings, Parts & related accessories, electrical transformer, CCTV, footwear costing more than Rs 500, bidi patta, biscuits (all categories), flavoured refined sugar, pasta, cornflakes, pastries and cakes, preserved vegetables, jams, sauces, soups, ice cream, instant food mixes, mineral water, tissues, envelopes, tampons, notebooks, steel products, printed circuits, camera, speakers and monitors, AC hotels that serve liquor, telecom services, IT services, branded garments and financial services will attract 18 per cent tax under GST.

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Edited By

Suhas Test

Reported By

Suhas Test

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