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Sunday 11 June 2017

GST List Released, What Will Be The Tax For Which Good Know

New Delhi - Central Excise and Custom Board has issued a list of GST rates for the common man. Let us tell you that GST is going to come into force all over the country from July 1. After its arrival, there will be minor changes in the life of common man, as a new tax is going to come into force.
Will end all taxes

GST - Goods and Service Tax

GST will eliminate all taxes, such as excise duty, customs, service tax and VAT. The Central Excise and Custom Board has issued a list under the name of 'GST for the common man,' which explains what GST will be on which item. It is important to know that at present four slabs have been made for GST rates.

GST will not look at these
Non-packed cereals, jaggery, milk, eggs, curd, lassi, cheese without packing, natural honey without vegetables, vegetables, flour without any brand, non-branded flour, non-branded beverage, common salt, The government has decided not to impose any GST on contraceptives, raw jute, raw silk etc. Apart from this, health and education services will also be out of the purview of GST.

5 percent GST
Sugar, Tea, Roasted Coffee Beans, Edible Oil, Skimmed Milk Powder, Milk Food for Kid, Paneer with Packing, Cotton Fabric, Fabric, Sarkanda, Boots of More than Rs 500, Newspaper, Public Distribution System Kerosene, Domestic LPG, Coal , Solar photovoltaic cells and modules, cotton fibers, clothes up to Rs.1000 per cent have been set up to 5% GST.

12 percent GST
You have to give 12 percent GST on butter, ghee, mobile, cashew nuts, almonds, sauces, fruit juice, coconut water packing, agarbatti, umbrella, clothes costing more than Rs 1000 rupees etc.

18 percent GST

Hair impregnated oils, soap, toothpaste, capital goods, industry intermediaries, pasta, corn flakes, jam, soup, ice cream, toilet tissue, facial tissue, iron / steel, fountain pen, computer, Manned fibers, shoes and slippers for more than Rs. 500 have been decided to install 18 percent GST.

28 percent GST
Durable items of consumption (which are bought for long periods of time such as cars) cement, chewing gum, custard powder, perfume, shampoo, make-up, fireworks and motorcycle.

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