Here’s Complete Guide On GST Rates

Here’s Complete Guide On GST Rates
Goods and Service Tax (GST) has been rolled out yesterday night.  The goods and services are listed in four different tax slabs – 5 percent, 12 percent, 18 percent and 28 percent.  While some goods have come under taxation other goods have been exempted from the taxation.  With the implementation of GST, the entire taxation of all the goods and services in the country has come under single roof top.  Here we have presented before you the complete guide on all the goods and services and their respective tax slabs.
Goods on which tax exempted
Many foods items like meat, fish, chicken, eggs, milk, butter milk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, salt, jiggery, cereal grains have been exempted from tax slabs.  Coming to beauty products like Bindi, sindoor, kajal, palmyra, bangles etc also were exempted from tax.  Stamps, judicial papers, printed books, newspapers are also exempted from tax.  Other items include jute and handloom, bones and horn cores, hoof meal, horn meal, bone grist, bone meal etc.
Services on which tax exempted
Hotels and lodges with tariff below Rs. 1, 000 have been excluded from GST.  Rough precious and semi-precious stones will have GST rate of 0.25 percent.
5% tax
The items that are priced at 5 percent tax are fish fillet, packaged food items, cream, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea, spices, pizza bread, rusk, sabudana, cashew nut, cashew nut in shell, raisin, ice and snow.
Clothing below Rs 1000 and footwear below Rs 500 are fall under this category.  Items like bio gas, kerosene and coal fall in this slab.  Other items in this slab include agarbatti, kites, postage or revenue stamps, stamp-post marks, fertilizers, first-day covers and lifeboats.
Transport services like railways and air travel fall under this category.
Small restaurants will also be under the 5% category
Gold has been taxed under a separate slab of 3 per cent.
12% tax
Under 12% slab, frozen meat products, butter, cheese, ghee, dry fruits in packaged form, animal fat, sausage, fruit juices, namkeen and ketchup & sauces fall.  Cellphones will also fall under this category.  Cutlery items like Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs fall in this slab.
Apparel above Rs 1000 will attract 12 per cent tax.
Non-AC hotels, business class air ticket, state-run lottery, work contracts will fall under 12 per cent GST tax slab

18% tax
Under 18 per cent category, the items listed will be 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 and mineral water.
ServicesAC hotels that serve liquor, telecom services, IT services, branded garments and financial services will attract 18 per cent tax under GST.
28% tax
Goods that attract 28% tax are chewing gum, molasses, chocolate not containing cocoa, waffles and wafers coated with choclate, pan masala and aerated water fall in this category.  Other items include deodorants, shaving creams, after shave, hair shampoo, dye and sunscreen are in this tax slab.
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