Showing posts with label gst on food products. Show all posts
GST Rates On Essential Goods For Common Man - A Detailed List
GST or Goods and Services Tax, the upcoming indirect tax regime slated for a July 1 rollout, is expected to bring a slew of surprises to the common man. Touted as the biggest tax reform since Independence in 1947, GST will subsume all major levies including excise, service tax and VAT or value-added tax. The Central Board of Excise and Customs (CBEC), a part of the Department of Revenue under the Ministry of Finance, has released a list of GST rates - titled "GST for common man" - on everyday items used by the common man. Items such as unbranded atta/maida/besan, unpacked food grains, milk, eggs, curd, lassi, fresh vegetables and contraceptives are among the items exempted from GST, the CBEC said. "81 per cent of items to fall in/below 18 per cent GST slab. Only 19 per cent (about a fifth) of goods will attract GST above 18 per cent," it said.
Here's a list of everyday items as given by the CBEC and the tax rate you will have to shell out once GST kicks in:
Here's a list of everyday items as given by the CBEC and the tax rate you will have to shell out once GST kicks in:
GST RATES
Foodgrains will cost less from July 1 when the nation-wide Goods and Service Tax (GST) is rolled out as the GST Council today decided to exempt the daily-use commodities from the levy.
Here's a complete list of the rates of all 1,211 items but six were finalised at the first day of the two-day meeting in Srinagar of the GST Council, headed by Union Finance Minister Arun Jaitley and comprising state representatives.
Also, here's a complete list of all the items that the GST Council has broadly approved as the rates of GST Compensation Cess to be levied on certain goods.
Here's a complete list of the rates of all 1,211 items but six were finalised at the first day of the two-day meeting in Srinagar of the GST Council, headed by Union Finance Minister Arun Jaitley and comprising state representatives.
Also, here's a complete list of all the items that the GST Council has broadly approved as the rates of GST Compensation Cess to be levied on certain goods.
