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GST Schedule for Goods Released
May 25, 2017
There are four tax slabs for Goods and Services tax- 5 %, 12%, 18%, and 28%. The GST council has assigned most of the items to these, as provided below:
- Common everyday use items have been -12% and 18%
- Indian sweets – 5%
- Edible oil, sugar, tea, coffee- 5%
- Coal- 5% (currently it’s taxed at 11.69%)
- Food grains, vegetables, fruits, and milk and cereal- 0%
- Luxury cars- 28% tax along with an additional cess of 15%
- Processed food for daily needs- 5%
- Frozen or processed fish- 5%
- Frozen meat- 12%
- Watches- 18% or 28% depending on their category
- Medical instruments- 5% to 28% depending on their category and usage
- Pan masala- 60% (71% for unmanufactured tobacco)
