Throughout India GST is an indirect tax to replace the taxes imposed by central & state government. Now a day GST is main things that have taken attraction of the market. On 1211 items the government categorised various tax slabs. GST rates slabs are 5%, 12%, 18%, 28%.

GST free Goods & services

There will be no tax apply on goods items like, fruits & vegetables, flour, milk, curd, eggs, butter, jute, fresh meat & chicken,  salt, Prasad, stamp, printed books,  newspapers, handloom, judicial papers etc.

There will be no tax on service of hotel and lodging having tariff below Rs 1000.

5 % GST on Goods & Services

There will 5% tax attract on Goods like skimmed milk powder, coffee, tea, spices, Rusk, frozen vegetables, coal, kerosene, cream, paneer, footwear below Rs 500, packaged food items, apparel below Rs 1000, fish fillet, sabudana, pizza bread, lifeboat.

There will be 5% tax attract on services like small restaurant, railway & air transport services.

12% GST on Goods & Services

There will 12 % tax slab on Goods like Aurvedic medicine, tooth powder, colouring books, agarbatti, picture books, sewing machine, namkeen, fruit juices, packaged dry fruit, animal fat, butter, cheese, ghee, frozen meat product, cell phone, Apparel above Rs 1000.

There will be 12% tax slab on Services like, Work contracts, business class air ticket, fertilisers and Non air-conditioner hotels.

18% GST on Goods & Services

Major goods are covered under this slab like Biscuits, sugar, pasta, cornflakes, cake & pastries, mineral waters, jam, soup, sauces, ice creams, steel product, note book, envelop, tissues, camera, monitor & speakers, footwear cost above Rs 500.

There will be 18% tax slab on services like IT services, financial services, telecom services, AC hotel who serves liquor.

28% GST on Goods & Service

28% the highest tax under GST. Goods  covered under this slabs are pan masala, Bidis, chewing Gum, chocolate not having cocoa, paint, shaving cream, deodorants, hair shampoo, dye, after shave, wallpaper, ceramic tiles, water heater, weighing machine, dishwasher, ATM, washing machine, vacuum cleaner, hair clipper, motorcycle, automobiles,  aircraft for personal use, molasses, waffles & wafers coated with chocolate.

There will 28% tax slabs on services like Cinema, race club betting, five star hotels.

 

DIFFERENCE BETWEEN THE CURRENT BILL AND 2011 UPA’S GST

GST BENEFITS AND IMPACT ON INDIAN ECONOMY

BASICS OF GOODS & SERVICES TAX (GST)

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