GST council has made the much-awaited announcements around tax rates on various categories of goods on day one of a two-day meeting of the said council at Srinagar. There has been a hype around these rates for a while and now these rates are finally in the public domain.
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) |
- Menthol and menthol crystals,
- Peppermint (Mentha Oil),
- Fractionated / de-terpenated mentha oil (DTMO),
- De-mentholised oil (DMO),
- Spearmint oil,
- Mentha piperita oil
|
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 |
- School satchels and bags other than of leather or composition leather;
- Toilet cases [4202 12 10];
- Hand bags and shopping bags of artificial plastic material [4202 22 10], of cotton [4202 22 20], of jute [4202 22 30], vanity bags [4202 22 40];
- Handbags of other materials excluding wicker work or basket work [4202 29 10].
|
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) |
|