All Updates and Information for GST Tax Rate in India as on 1st July 2017:
GST, Goods and Service Tax has finally implemented in India after a great debate and debacles of more than a year in the Modi Government. In the mid night of 1st July 2017, the Lok Sabha passed the law to GST Tax Rates. GST Tax rate in India, has been getting a shift in rates as the various entities has been opposing the GST implementation.
Here, in this article, we are pleased to provide you a detailed post on GST Tax Rate in India July 2017, and we promise you to update this article on GST rates in India at every other day as and when new updates on this matter come to our knowledge.
GST Tax Rate in India
The brief updates on GST Tax Rate in India is updated below. We will be adding new changes in this list as and when it updates.
UPDATED: 1st July 2017:
GST Council Meeting Held on 30-06-2017 – Relief to FARMERS
The GST council keeps holding the meeting for revising GST tax rate in India. And yesterday, the shift in GST tax rate in India brought smile on the faces of farmers.
- In the 18th GST Council meeting held on yesterday 30th June 2017, the GST that was applied on the fertilizer was reduced from 12% to 5%.
- Exclusive parts of tractors from 28 per cent to 18 per cent. “Some felt it (12 per cent GST rate) may be a burden on consumer. There was a consensus (in the GST Council) to bring rate to 5 per cent,” Jaitley said.
- MUST CHECK: GST Penalties, Offenses and Appeals
GST Council revises rates for 66 items on 11th June 2017
After the 16th GST Council meet concluded for updating GST Tax rate in India, the rates of 66 items under the upcoming GST regime have been revised.
Arun Jaitley said: ” After considering the recommendations, the GST Council has reduced the tax level in 66 out of 133 items on which representations were made by the industries.”
The finance minister added that under the GST, traders, manufacturers and restaurants with turnover of up to Rs 75 lakh can avail the composition scheme, against Rs 50 lakh earlier.
Some of the revised GST Tax rate in India, the FM highlighted were:
The revised GST Tax rate in India are as under:
- There would be two categories of GST rates on cinema, 28% in case tickets above Rs.100 and 18% in case of tickets up to Rs.100
- Cashew revised from 12% to 5%
- Packaged food, including some fruits and vegetables, pickles, toppings, instant food, sauces revised from 18% to 12%
- Agarbatti revised from 12% to 5%
- Dental wax revised from 28% to 18%
- Insulin revised from 12% to 5%
- Plastic beads revised from 28% to 18%
- Plastic tarpaulin revised from 28% to 18%
- School bags revised from 28% to 18%
- Exercise books revised from 18% to 12%
- Coloring books revised from 12% to nil
- Pre-cast concrete pipes revised from 28% to 18%
- Cutlery revised from 18% to 12%
- Tractor components revised from 28% to 18%
- Computer printers revised from 28% to 18%
Presently, entertainment tax is levied by individual states. The states levy a different rate, ranging from 28-110%, and the weighted average for the entire country is about 30%.Under the GST Tax rate in India, there will now be two categories for movie tickets. For tickets that cost less than Rs 100, a tax of 18% will be levied. For the tickets costing more than Rs 100, a GST of 28% will be levied. More updates for gst tax rate in India, gst tax rate in India July 2017, revised gst tax rate in India 2017-2018, gst tax rate in India download, gst tax rate in India pdf download.
GST Nil rate (0%):
GST 0% rate list means, these items covered in GST Regime but at 0% rate. In future, the government has option to convert these 0% item to any higher rate as per the list of GST Tax rate in India.
>> Fresh meat, fish chicken, eggs, milk, butter milk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, prasad, salt, bindi. Sindoor, stamps, judicial papers, printed books, newspapers, bangles, handloom etc.
GST 5% Items List
GST 5% tax rates items list of major items is given here to make in the list of GST Tax rate in India @ 5%.
>> Fish fillet, cream, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea, spices, pizza bread, rusk, sabudana, kerosene, coal, medicines, stent, lifeboats will attract tax of 5 percent.
GST 12% Items list
GST 12% tax rates item list contains major items as given below.
>> Frozen meat products , butter, cheese, ghee, dry fruits in packaged form, animal fat, sausage, fruit juices, Bhutia, namkeen, Ayurvedic medicines, tooth powder, agarbatti, colouring books, picture books, umbrella, sewing machine, and cellphones will be under 12 per cent tax slab.
GST 18% Items List
The GST 18% tax rate items are under this tax slab which include flavoured refined sugar, pasta, cornflakes, pastries and cakes, preserved vegetables, jams, sauces, soups, ice cream, instant food mixes, mineral water, tissues, envelopes, tampons, note books, steel products, printed circuits, camera, speakers and monitors.
GST 28% Items list
28% GST rates list contains the major item like Chewing gum, molasses, chocolate not containing cocoa, waffles and wafers coated with chocolate, pan masala, aerated water, paint, deodorants, shaving creams, after shave, hair shampoo, dye, sunscreen, wallpaper, ceramic tiles, water heater, dishwasher, weighing machine, washing machine, ATM, vending machines, vacuum cleaner, shavers, hair clippers, automobiles, motorcycles, aircraft for personal use, and yachts will attract 28 per cent tax – the highest under GST system.
We will be adding the updates and information for gst tax rate in India August 2017, gst tax rate in India today july 2017, gst tax rates 2017, gst tax rate in India revised download, gst tax rate in India pdf download in this article.
BONUS – Big Economy’s VAT Rates, Sales Tax Rates and GST Rates
We have provided this bonus information chart which will help you to compare the gst tax rate in India with the big economies of the world. GST tax rate in India is of course less than the standard rate of UK, Sweden, France etc.
| Country Name | Standard rate* | Other rates** |
| Canada | GST: 5% HST: 9.975%–15% |
0% |
| Chile | 19% | 15%–50% |
| China | 17% | 13%, 11%, 6%, 3% |
| France | 20% | 10%, 5.5%, 2.1% |
| Germany | 19% | 7% |
| India | 12.5%–15% | 20%, 4%–5.5%, 1%, 0% |
| Israel | 17% | 0% |
| Italy | 22% | 10%, 5%, 4% |
| Japan | 8% | NA |
| Sweden | 25% | 12%, 6% |
| Switzerland | 8% | 3.8%, 2.5%, 0% |
| United Kingdom | 20% | 5%, 0% |
| United States | 0%–7.5% | NA |
* Rate shown here is most common standard rate; for regional variations, see each chapter.
** Rates for small businesses and special schemes explained in each chapter.
Further updates for GST tax rate in India and GST tax updates will now on be added to this page itself, be with us for the updates.
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