As soon as the GST rates were announced a huge wave of curiosity hit across industry and trade bodies. Everyone is evaluating their position as a result of this change. So in this article, we bring you our analysis of these GST rates.
We already know that the GST slabs are pegged at 5%, 12%, 18% & 28%. According to the latest news from the GST council, the tax structure for common-use goods are as under:
GST Rates Structure
Tax Rates | Products | |
---|---|---|
0% | Milk | Kajal |
Eggs | Educations Services | |
Curd | Health Services | |
Lassi | Children’s Drawing & Colouring Books | |
Unpacked Foodgrains | Unbranded Atta | |
Unpacked Paneer | Unbranded Maida | |
Gur | Besan | |
Unbranded Natural Honey | Prasad | |
Fresh Vegetables | Palmyra Jaggery | |
Salt | Phool Bhari Jhadoo | |
5% | Sugar | Packed Paneer |
Tea | Coal | |
Edible Oils | Raisin | |
Domestic LPG | Roasted Coffee Beans | |
PDS Kerosene | Skimmed Milk Powder | |
Cashew Nuts | Footwear (< Rs.500) | |
Milk Food for Babies | Apparels (< Rs.1000) | |
Fabric | Coir Mats, Matting & Floor Covering | |
Spices | Agarbatti | |
Coal | Mishti/Mithai (Indian Sweets) | |
Life-saving drugs | Coffee (except instant) | |
12% | Butter | Computers |
Ghee | Processed food | |
Almonds | Mobiles | |
Fruit Juice | Preparations of Vegetables, Fruits, Nuts or other parts of Plants including Pickle Murabba, Chutney, Jam, Jelly | |
Packed Coconut Water | Umbrella | |
18% | Hair Oil | Capital goods |
Toothpaste | Industrial Intermediaries | |
Soap | Ice-cream | |
Pasta | Toiletries | |
Corn Flakes | Computers | |
Soups | Printers | |
28% | Small cars (+1% or 3% cess) | High-end motorcycles (+15% cess) |
Consumer durables such as AC and fridge | Beedis are NOT included here | |
Luxury & sin items like BMWs, cigarettes and aerated drinks (+15% cess) |
In addition to the above, a few other items were mentioned in the Council’s announcement of rates. These items, and the applicable rates on them are as follows:
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