GST- (GOODS AND SERVICE TAX)

  • By:Durlov Bhattacharya
  • 1 Comment

Introduction:-The GST is a Value added Tax (VAT) is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and state governments.

The following taxes will be bound together by the GST:

  • Service tax
  • VAT
  • Central Sales Tax
  • Entertainment Tax
  • Entry Tax
  • Purchase Tax
  • Luxury Tax
  • Advertisement taxes
  • Taxes applicable on lotteries

GST RATES:

A four-tier GST tax structure is introduced,  5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all- powerful GST Council Of INDIA.

GOODS AND SERVICES Rate

 (NIL)

Rate

 (5%)

Rate

 (12%)

Rate

 (18%)

Rate

(28%)

Meat And Edibles Goods Other than frozen state or preserved Goods in frozen state or preserved
Dairy Products Fresh milk without any processing Milk added sugar and sweetening Butter and other fats Condensed milk
Edible Vegetables Fresh vegetables other than frozen state or preserved Vegetables in frozen state or preserved
Edible fruits and nuts Fresh fruits other than frozen state or preserved areca nuts, whether or not shelled or peeled,.

Dried nuts and whether not shelled or peeled

areca nuts, whether or not shelled or peeled,.

Dry fruits, almonds and Brazil nuts.
Coffee, Tea and Spices. All goods of seed quality All goods not specified elsewhere
Wheat and Gluten Flour , Aata ,Maida etc All goods not specified elsewhere Starches Melt whether or not roasted
Oil and Seeds All goods of seed quality All goods other than seed quality
Sugar and sugar confectionery Cane jaggery (gur) Beet sugar, cane sugar Refined sugar containing added flavoring Molasses and chewing gums.
Tobacco         and

manufactured tobacco substitutes

 

Tobacco leaves [under reverse

Tobacco leaves [under reverse

Tobacco leaves [under reverse charge]

All goods not specified elsewhere, other than biris.
Salt and Sulphur Common salt Salt other than common salt Marble and travertine blocks Sulphur recovered by refining Marble and travertine, other than blocks
Minerals Fuels and oils Coal and solid fuels Bio gas All goods not specified elsewhere Avgas
Organic Chemicals Gibberellic acid    Acyclic hydrocarbons
Inorganic Chemicals Thorium oxalate

 

Medicinal grade hydrogen peroxide All goods not specified elsewhere
Pharmaceutical products Human blood and its components Animals and human blood vaccines All goods not specifies elsewhere Nicotine polacrilex gum
Fertilizers Organic manure Fertilizers which are clearly not to be used as All goods which are clearly not to be used as fertilizers
Soap and Face Wash Sulphonated castor oil, fish oil or sperm oil Candles, tapers and the like Soap in shape of bars All goods not specified elsewhere

All goods not specifies elsewhere

Explosive Products And Matches Handmade safety matches Propellant powders safety fuses All goods not specifies elsewhere
Plastic Products Plastic bangles Feeding bottles All goods not specified elsewhere Floor coverings of plastics,
Rubber Products Condoms and contraceptives Natural rubber Latex Rubber Thread Surgical rubber gloves All goods not specified elsewhere New pneumatic tyres of rubber used in motor vehicles
Leather Products Gloves specially designed for use in sports All goods not specified elsewhere
Wood And Wood Products 1.      Firewood or fuel wood

Fire wood or fuel wood

Wood in chips or particles; sawdust and wood waste and scrap All goods not specified elsewhere Wood in the rough Particle board, Oriented Strand Board
Printed Books And Newspapers Printed books, including Braille books Brochures, leaflets and similar printed matter All goods not specified elsewhere
Articles of Stone, Plaster, Cement. Sand lime bricks and Fly ash bricks. Millstones, grindstones, grinding wheels All goods not specified elsewhere

All goods not specified elsewhere

All goods not specified elsewhere

Glass Products Bangles (except those made from

Bangles (except those made from

Bangles (except those which are made of precious metals)

Glass beads Globes for lamps and lanterns Glasses for corrective spectacles All goods not specified elsewhere
Iron And Steel All goods
Articles Of Iron And Steel Mathematical boxes, geometry boxes and color boxes pencil All goods not specified elsewhere Stoves [other than kerosene stove and LPG stoves]
Copper Articles Utensils All goods not specified elsewhere All goods other than utensils
Nickel Articles All nickel goods

mattes, nickel oxide sinters and other intermediate products of nickel metallurgy

 

Aluminium  Articles Utensils table or kitchen All goods not specified elsewhere Aluminium foil
Electrical Machinery And Equipments  Renewable energy devices & spare parts for their manufacture Telephones for cellular networks or for other wireless networks All goods not specified elsewhere. Static converter
Railway And Locomotives. Rail locomotives powered from  an external source Refrigerated containers
Vehicles other than Railways Carriages for disabled persons Tractors (except road tractors for semitrailers of engine capacity more than 1800 cc) Cars for physically handicapped persons All goods not specified elsewhere.
Aircrafts  And Spacecrafts Spacecraft (including satellites) Other aircraft Balloons and dirigibles, gliders and other non-powered aircraft All goods not specified elsewhere
Ships Boats And Floating Structures All goods not specified elsewhere. Vessels and other floating structures for breaking up Yachts and other vessels for pleasure or sports; rowing boats and canoes
Photography And Cinematography Photographic plates and film for x-ray for medical use. All goods not specified

elsewhere

 

Clocks And Watches Braille watches Clocks with watch movements, excluding clocks of heading All goods not specified elsewhere.
Musical Instruments Indigenous handmade musical instruments Al goods not specified elsewhere.
Arms And Ammunition Military weapons other than revolvers, pistols Revolvers and pistols, other than those of heading
Furniture Bedding Mattresses Kerosene pressure lantern Hurricane lanterns, Kerosene lamp Medical, surgical, dental or veterinary furniture All goods not specified elsewhere.
Toys Games And Sports 1.      Sports goods other than articles and equipments for general ph

Sports goods other than articles and equipments for general physical exercise

Electronic Toys like tricycles, scooters, pedal cars etc. All goods not specified elsewhere.
Miscellaneous

manufactured

articles

 

Slate pencils and chalk sticks Broomsticks and Muddhas made of sarkanda, phool bahari jhadoo Combs, and  hair pins

 

Buttons, of plastics  not covered with the textile All goods not specified elsewhere.
Laboratory and Chemicals Passenger baggage  Specified drugs and medicines

Drugs and medicines

 

Other Drugs and medicines intended for personal use. All goods All dutiable articles intended for personal use
Real State Commercial office real state Others
Posted in: Goods & Service Tax (GST)

Comments

One Response to “GST- (GOODS AND SERVICE TAX)”

  1. Sanjib Kumar Das

    Nice update. Very good site for gst knowledge

    December 7, 2018 - 7:08 pm #

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