The GST council has revised the GST rates applicable on some commodities so as to ease the rules on few sectors. In this post, we discuss the new tax rates in detail.
The list of commodities on which Goods and Service tax have reduced are:
Sl. No | Description | Present GST rate | Revised GST rate |
---|---|---|---|
1 | Mangoes sliced dried | 12% | 5% |
2 | Khakra and plain chapati/roti | 12% | 5% |
3 | Food preparations put up in unit containers and intended for free distribution to economically weaker sections of the society. Under a programme duly approved by the Central Government or any State Government, subject to specified conditions | 18% | 5% |
4 | Namkeens
|
12% | 5% |
5 | Imposing GST only on the net quantity of superior kerosene oil [SKO] retained for the manufacture of Linear Alkyl Benzene [LAB] | 18% | 18% (Clarification to be issued) |
6 | Ayurvedic, Unani, Siddha, Homeopathy medicines, other than those bearing a brand name | 12% | 5% |
7 | Poster Colour | 28% | 18% |
8 | Modelling paste for children amusement | 28% | 18% |
9 | Plastic waste, parings or scrap | 18% | 5% |
10 | Rubber waste, parings or scrap | 18% | 5% |
11 | Hard Rubber waste or scrap | 28% | 5% |
12 | Paper waste or scrap | 12% | 5% |
13 | Duty credit scraps | 5% | Nil |
14 | Sewing thread of man-made filaments, whether or not put up for retail sale | 18% | 12% |
15 | All synthetic filament yarn, such as nylon, polyester, acrylic, etc. | 18% | 12% |
16 | All artificial filament yarn, such as viscose rayon, Cuprammonium | 18% | 12% |
17 | Sewing thread of man-made staple fibres | 18% | 12% |
18 | Yarn of man-made staple fibres | 18% | 12% |
19 | Real Zari | 12% | 5% |
20 | All goods falling under heading 6802,[other than those of marble and granite or those which attract 12% GST] | 28% | 18% |
21 | Cullet or other waste or scrap of Glass | 18% | 5% |
22 | Fittings for loose-leaf binders or files; letter clips, letter corners, paper clips, indexing tags and similar office articles, of base metal; staples in strips(for example, for offices, upholstery, packaging) of base metal. | 28% | 18% |
23 | Plain Shaft Bearing 8483 | 28% | 18% |
24 | Parts suitable for use solely or with fixed Speed Diesel Engines of power not exceeding 15HP. | 28% | 18% |
25 | Parts suitable for use solely or principally with power driven pumps primarily designed.
(For Handling water; centrifugal pumps, deep tube-well turbine pumps, submersible pumps, axial flow and mixed flow vertical pumps.) |
28% | 18% |
26 | E-Waste | 28% or 18% | 5% |
27 | Biomass briquettes | 18% | 5% |
Revised IGST rates
Sl. No | Description | Present GST rate | Revised GST rate |
---|---|---|---|
1 | IGST exemption on imports of rigs imported for oil/gas exploration and production projects under lease. They are subject to the following conditions that:
|
5% | Nil |
2 | Exemption from IGST on imports of medicines supplied free by international agencies like UNICEF, WHO, Red Cross. | 12% or 5% | Nil |
3 | Exemption from IGST on imports of bona fide gifts up to CIF value limit of Rs. 5000 imported through post or air. | 28% | Nil |