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GST: Item-wise rates schedules

By Yogesh Supekar | 5/19/2017 9:45 AM Friday

With just 43 days left for implementation of Goods and Services Tax (GST), we have with us the list of rates scheduled for 1,211 goods. The list as approved by the GST council excludes textiles, footwear, biscuits and few others. The rates for these items along with services is expected today i.e the second day of the GST council meeting which is underway in Srinagar.

Following are the items with nil or 0 per cent GST:-

Fresh milk, Fresh fruits, Cereals, Puffed rice, papad, bread, Aquatic/poultry/cattle feed, Salt, Human blood, Contraceptives, Condoms, Firewood, Printed books, Bangles (non-precious metals) and Agricultural implements.

The list of items with 5 percent rates:-

Branded paneer, Frozen vegetables, Coffee, tea, Branded cereals, Soyabean, groundnut, sunflower seeds, Vegetable fats & oils, Beet sugar, cane sugar etc.

The list of items with 12 percent rates:-

Frozen meat, Butter, ghee, cheese, Dry fruits, Meats and fish preparations, Fruits and vegetable juices, Ready to eat nankeen/ bhujiya, Milk beverages, Bio-gas.

The list of items with 18 percent rates:-

Condensed milk, Refined sugar, Infant use preparations, pasta, cornflakes, waffles, pastries and cakes, Preserved vegetables, Jams, jellies, Tea concentrates, sauces, soups, ice cream, instant food mixes, sharbet etc.

The list of items with 28 percent rates:-

Cocoa butter, fats, oils, powder, chocolates, Instant, aroma coffee, Coffee concentrates, custard powder, Pan masala, Protein concentrates, sugar syrups, Aerated water (with sugar), Paints and varnish etc.

The GST compensation cess will be applicable as below:-

Pan masala: 60 percent,Aerated waters: 12 percent,Cigarettes: 5 percent + Rs 1,591 – 4,970/1,000 sticks,Small cars (less than 4 metres, petrol): 1 percent,Small cars (less than 4 metres, diesel): 3 percent,Mid to large cars: 15 percent,Sports Utility Vehicles (SUVs): 15 percent and Hybrid motor vehicles: 15 percent.

 

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Rahul Kankhare May 23 08:48PM
Order not executing ....this is 2 nd day
Mages waran M May 23 05:27PM
just buy and sell?
Mages waran M May 23 05:27PM
how to do the intra day here
Ronak Maloo May 23 04:04PM
You can buy 1st and sell same day or you can sell first (sort) and buy on same day later
Ronak Maloo May 23 04:03PM
Same day buy and sell