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What is GST? Explaining in details with tax rates list

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GST – Goods and Services Tax

GST is one secondary tax for the entire country, which will make India one bound together normal market.

GST is a solitary assessment on the supply of products and ventures, appropriate from the producer to the customer. Credits of information charges paid at each stage will be accessible in the ensuing phase of significant worth expansion, which makes GST basically an assessment just on esteem expansion at each stage. The last buyer will subsequently bear just the GST charged by the last merchant in the store network, with set-off advantages at all the past stages.

Rate List of GST

Rate List of GST in India have been given as Item Wise.The Rates of GST is diverse for Goods and Services. All GST Rates in India can be sorted into Five categories. A standout amongst the most celebrated classification is the Zero Rate GST (Also called as GST Exemption Goods) which incorporates cultivate create and so on 18% GST Rates in PDF has been determined for the most number of items. You ought to comprehend that, these GST Rates will be changed each year in view of the criticism from the providers and the delegates of the State Governments of India. The GST Rates PDF Item Wise List has been enhanced for the versatile survey.

GST Rates List of 2017

  1. 0% GST Rate – Milk, Meat, Sindoor etc.
  2. 18% GST Rate – Paneer, Stent, Vegetables etc.
  3. 12% GST Rate – Agarbatti, Bhutia, Animal Fat etc.
  4. 18% GST Rate – Cameras, Steel Products, Mineral Water.
  5. 28% GST Rate – Automobiles, ATM, Shampoos etc.

GST for Motor Vehicles and Home appliances

The Central Government has fixed a standard 28% GST rate for Motor Vehicles and also for Home appliances.

GST Rate on Tobacco

GST rates on Tobacco Products has been fixed at 5%. And CG has decided to limit the rate of cess on tobacco products at INR 4,170 per 1,000 sticks or 290 % ad valorem.

GST Rate on Gold & Jewellery

The GST Council has not yet chosen the rate of GST on Gold and Jewellry Products.

In the event that the client restores the adornments to the merchant, the 18% duty paid at the season of procurement can not be recovered. At the end of the day, the estimation of the gems will decrease by 18% GST paid at the season of procurement.

Subsequently, the purchasers will get seriously affected. The administration is as yet considering the component for GST. Thusly, this effect is speculative and may change as more data streams in on GST rules.

According to the present data, under GST, gold decorations would be liable to 18% assessment, which the diamond setter can change with input credit. This 18% expense must be borne by the end clients. Hence, the last prize of the gems increments.

GST Rate on Cars Automobiles

The Cars and Automobiles in India will draw in the most highest rate of GST, that is 28% slab.

Dissimilar to the various rate of tax assessment required at present, the new expense structure will see a uniform rate of 28 for every penny on autos, said a man with information of the choices made at the GST Council meeting. An extra cess of 1 for every penny and 3 for each penny is being talked about for demand on little petroleum and diesel autos, separately.

Products under 12% GST Rates

GST Rate Items List Goods Services

  1. Frozen meat products
  2. Butter, cheese, ghee
  3. Dry fruits in packaged form
  4. Animal fat
  5. Sausage
  6. Fruit juices
  7. Bhutia
  8. Namkeen
  9. Ayurvedic medicines
  10. Tooth powder
  11. Agarbatti
  12. Colouring books
  13. Cell Phones

Products under 18% GST Rates

  1. Flavored refined sugar
  2. pasta
  3. cornflakes
  4. pastries and cakes
  5. preserved vegetables
  6. jams
  7. sauces
  8. soups
  9. ice cream
  10. instant food mixes
  11. mineral water
  12. tissues
  13. envelopes
  14. tampons
  15. note books
  16. steel products
  17. printed circuits
  18. camera
  19. speakers and Monitors

Products Attracting 28% GST Rates

  1. Chewing gum
  2. molasses
  3. chocolate not containing cocoa
  4. waffles and wafers coated with chocolate
  5. pan masala
  6. aerated water
  7. paint
  8. deodorants
  9. shaving creams
  10. after shave
  11. hair shampoo
  12. dye
  13. sunscreen
  14. Wallpaper
  15. ceramic tiles
  16. water heater
  17. dishwasher
  18. weighing machine
  19. washing machine
  20. ATM
  21. vending machines
  22. vacuum cleaner
  23. shavers
  24. hair clippers
  25. automobiles
  26. motorcycles

Products under 0% GST Rates

  1. Fresh meat
  2. fish chicken
  3. eggs
  4. milk
  5. butter milk
  6. curd
  7. natural honey
  8. fresh fruits and vegetables
  9. flour
  10. besan
  11. bread
  12. prasad
  13. salt
  14. bindi
  15. Sindoor
  16. stamps
  17. judicial papers
  18. printed books
  19. newspapers
  20. bangles
  21. handloom