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 | 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 | |
Bones and horn cores, bone grist, bone meal, etc.; hoof meal, horn meal, etc. | Cereal grains hulled | |
Palmyra jaggery | Dicalcium phosphate (DCP) of animal feed grade conforming to IS specification No.5470 : 2002 | |
Human hair, dressed, thinned, bleached or otherwise worked | Muddhas made of sarkanda | |
5% | Sugar | Packed Paneer |
Tea | Coal | |
Edible Oils | Raisin | |
Domestic Oils | 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) | |
Cashew nut,Cashew nut in shell | Raisin | |
Ice and snow | Bio gas | |
Insulin | Agarbatti | |
Kites | Coir mats, matting and floor covering | |
Pawan Chakki that is Air Based Atta Chakki | Numismatic coins | |
Braille paper, braille typewriters, braille watches, hearing aids and other appliances to compensate for a defect or disability [These goods are covered in List 32 appended to notification No.12/2012-Customs, dated 17.03.2012 and are already at 5% GST rate (Chapter 90)] | ||
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 | |
Preparations of vegetables, fruits, nuts or other parts of plants, including pickle, murabba, chutney, jam, jelly | Ketchup & Sauces [other than curry paste; mayonnaise and salad dressings; mixed condiments and mixed seasonings], Mustard sauces | |
Bari made of pulses including mungodi | Apparels (< Rs.1000) | |
|
All diagnostic kits and reagents | |
Plastic beads | Exercise books and note books | |
Fly ash blocks | Glasses for corrective spectacles and flint buttons | |
Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs | Coffee (except instant) | |
Fixed Speed Diesel Engines | Two-way radio (Walkie talkie) used by defence, police and paramilitary forces etc. | |
Intraocular lens | Spectacles, corrective | |
Playing cards, chess board, carom board and other board games, like ludo, etc. [other than Video game consoles and Machines] | Agarbatti | |
18% | Hair Oil | Capital goods |
Toothpaste | Industrial Intermediaries | |
Soap | Ice-cream | |
Pasta | Toiletries | |
Soups | Printers | |
Curry paste; mayonnaise and salad dressings; mixed condiments and mixed seasonings | Kajal pencil sticks | |
Dental wax | Plastic Tarpaulin | |
|
Headgear and parts thereof | |
Pre cast Concrete Pipes | Salt Glazed Stone Ware Pipes | |
Aluminium foil | All goods, including hooks and eyes | |
Rear Tractor tyres and rear tractor tyre tubes | Rear Tractor wheel rim, tractor centre housing, tractor housing transmission, tractor support front axle | |
Weighing Machinery [other than electric or | Printers [other than multifunction printers] | |
Ball bearing, Roller Bearings, Parts & related accessories | Transformers Industrial Electronics | |
Electrical Transformer | Static Convertors (UPS) | |
Recorder | CCTV | |
Set top Box for TV | Computer monitors not exceeding 17 inches | |
Electrical Filaments or discharge lamps | Winding Wires | |
Coaxial cables | Optical Fiber | |
Perforating or stapling machines (staplers), pencil sharpening machines | Baby carriages | |
Instruments for measuring length, for use in the hand (for example, measuring rods and tapes, micrometers, callipers) | Bamboo furniture | |
Coaxial cables | Optical Fiber | |
Swimming pools and paddling pools | ||
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) |