GST RATE

Effect of GST on Product and Service Cost

GST has been implemented since 01.07.2017. All different State and Central Taxes has been replaced with Single Tax GST. GST is Goods and Services Tax, It can be also said Good and Simple Tax, because every one related to business will relaxed from paying and returning on different types of taxes. Only one tax has to be remembered and return has to be filed. Government has make slabs of taxes in five category 0%, 5%, 12%, 18% and 28% . Majority of items fall under 18% slab.

You can Download GST RATE SCHEDULE FOR CERTAIN GOODS
[As per discussions in the GST Council Meeting held on 3rd June, 2017]

Chapterwise chapter-wise-rate-wise-gst-schedule-03.06.2017

0 % GST RATE, No Tax or Exempted Goods and Services.

Goods:

Jute, Fresh meat, Fish chicken,  Eggs.

Milk, Butter milk, Curd.

Natural Honey.

Fresh Fruits and Vegetables.

Flour, Besan.

Bread,  Prasad.

Salt.

Bindi. Sindoor, Bangles, Kajal.

Stamps, Judicial papers.

Printed  books, Newspapers, Children’s’ picture, Drawing or Colouring books.

Hand loom.

Bones and Horn cores, Bone grist, Bone meal, etc.; Hoof meal, Horn meal, Cereal grains hulled, Palmyra jaggery, Human hair.

Services:

Hotels and lodges with tariff below Rs 1,000, Grandfathering service

Rough precious and semi-precious stones will attract GST rate of 0.25 per cent and Gold will be taxed at 3%. 

5% GST Rate

Goods :  Fish fillet, Apparel below Rs 1000, Packaged food items, Footwear below Rs 500, Cream, Skimmed Milk Powder, Branded Paneer, Frozen Vegetables, Coffee, Tea, Spices, Pizza Bread, Rusk, Sabudana, Cashew nut, Cashew nut in shell Kerosene, Coal, Bio gas, Medicines, Stent, Lifeboats, Raisin, Ice and snow,  Insulin, Agarbatti, Kites, Postage or Revenue Stamps, Stamp-Post marks, First-day covers Services: Railways, Air Transport, Small Restaurants.

Chapterwise chapter-wise-rate-wise-gst-schedule-03.06.2017

12% GST RATE

Goods:
Apparel above Rs 1000.

Frozen Meat products , Animal fat, Sausage.

Butter, Cheese, Ghee, Dry Fruits in packaged form, Fruit Juices, Bhujia, Namkeen.

Ayurvedic Medicines, Tooth Powder, Agarbatti.

Colouring Books, Picture books, Exercise books and Note books.

Umbrella, Sewing Machine, Cellphones, Ketchup & Sauces.

All diagnostic kits and Reagents, Spoons, Forks, Ladles, Skimmers, Cake servers, Fish Knives, Tongs, Spectacles, Corrective, Playing cards, Chess board, Carom board and other board games.

Services:
State-run lotteries, Non-AC hotels, Business Class Air Ticket.

Fertilizers, Work Contracts.

18% GST RATE 

Goods:  

Most items are under this tax slab.

Footwear Costing more than Rs 500.

Trademarks, Goodwill, Software,  Bidi Patta.

Biscuits, Flavoured Refined Sugar, Pasta, Cornflakes, Pastries and Cakes, Preserved Vegetables, Jams, Sauces, Soups, Ice Cream, Instant Food Mixes, Curry Paste; Mayonnaise and Salad Dressings; Mixed Condiments and Mixed Seasonings.

Mineral Water, Tissues, Envelopes, Tampons.

Note Books.

Steel Products, Printed Circuits, Camera, Speakers and Monitors, Kajal Pencil Sticks, Headgear and Parts thereof, Aluminium foil, Weighing Machinery [other than electric or electronic weighing machinery], Printers [other than multifunction printers], Electrical Transformer, CCTV, Optical Fiber, Bamboo Furniture, Swimming Pools and Padding Pools.

Services:
AC hotels that serve liquor, telecom services, IT services, Branded Garments and Financial Services, Room tariffs between Rs 2,500 and Rs 7,500, Restaurants inside five-star hotels.

28% GST RATE

Goods:
Bidis, chewing gum, Molasses, Chocolate not containing cocoa, Wafers and Wafers coated with Choclate, Pan Masala, Aerated Water, Paint, Deodorants, Shaving creams, After shave, Hair Shampoo, Dye, Sunscreen, Wallpaper, Ceramic Tiles, Water Heater, Dishwasher, Weighing machine, Washing machine, ATM, Vending Machines, Vacuum Cleaner, Shavers, Hair Clippers, Automobiles, Motorcycles, Aircraft for personal use.

Services:
Private-run Lotteries Authorised by the states, Hotels with room tariffs above Rs 7,500, 5-star hotels, Race Club Betting, Cinema.

You can Download GST RATE SCHEDULE FOR CERTAIN GOODS
[As per discussions in the GST Council Meeting held on 3rd June, 2017]

Chapterwise chapter-wise-rate-wise-gst-schedule-03.06.2017

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