GST impact: Check what’s costlier & cheaper

947

Considered to be one of the biggest tax reforms since Independence, the Goods and Services Tax is all set to impact the prices of every good and service. Here is a list of the goods and services and the taxes they will attract under the GST regime.

GOODS

Exempted

Milk, eggs, salt, fresh vegetables, fruits, contraceptives, organic manure, earthen pots, coconut, prasadam supplied by religious places like Temples, Mosques, Churches, Gurudwaras and Dargahs, jaggery, bindi, vermilion, glass bangles, handlooms, hearing aids, handmade musical instruments

5% Slab

Coffee (not instant), tea, groundnut, cane sugar, beet sugar, bio gas plant, wind mills, kerosene lantern, coal, hand pumps

12% Slab

Live animals, fruit juices, meat, butter, cheese, mobile phones, fountain pen ink, tooth powder, incense sticks, feeding bottles, braille paper, children’s colouring books, umbrellas, pencil sharpeners, tractors, bicycles, contact lenses, spectacle lenses, utensils, sports goods, fishing rods, combs, pencils, hand paintings

18% Slab

Helmets, LPG stoves, nuclear reactors, clocks, military weapons, electronic toys, plastic buttons, condensed milk

28% Slab

Aerated drinks, perfumes, after-shave lotions, deodorants, clothing of fur skin, razor blades, cars, revolvers, pistols

SERVICES

Exempted

Healthcare, education, metro train, local train, religious travel, Haj Yatra

5% Slab

Transport services, Restaurants with turnover of Rs 50 lakh or below, cab aggregators (Ola and Uber), economy class air travel

12% Slab

Non-AC restaurant, hotels with tariff of Rs 1,000-2,500, business class air travel

18% Slab

AC restaurants with liquor licence, telecom, financial services

28% Slab

5-star hotels, race club, betting, cinema halls

You might also like

Comments

Loading...