GST Rates 2017 in India/ GST Rate List

GST Rates 2017 in India

 GST Rates 2017 are very much finalized that from 1st July 2017 the Goods and Services tax will be applied  and we are  providing you list of all GST Rates on Goods & Services Applicable from July 1st, 2017. Recently GST Rates are Decided by GST Council on various Meetings, Now GST Rates are finalised on 19th May 2017 and amended in 11-06-2017 & 18-06-2017 meetings by CGST Council. Finance Ministers/ Members/ officials met for two days in New Delhi to resolve their problems and differences.Here we will discuss about the GST Tax Rate in India/ GST Final Rates, GST Rate Percentages 5%, 12%, 18% & 28%. Combined GST rate is being discussed by the Government.

GST Revised Tax Items List

There are some items which are under GST Revised list. On that items it is but obvious that now in the next meetings this list will be finalized.

  • GST rates on cinema, 28% in case tickets above Rs.100 and 18% in case of tickets up to Rs.100
  • Cashews revised from 12% to 5%
  • Packaged food, including some fruits and vegetables, pickles, toppings, instant food, sauces from 18% to 12%
  • Agarbatti from 12% to 5%
  • Dental wax revised from 28% to 18%
  • Insulin from 12% to 5%
  • Plastic beads from 28% to 18%
  • Plastic turpolin from 28% to 18%
  • School bags from 28% to 18%
  • Exercise books from 18% to 12%
  • Coloring books from 12% to nil
  • Pre-cast concrete pipes from 28% to 18%
  • Cutlery from 18% to 12%
  • Tractor components from 28% to 18%
  • Computer printers from 28% to 18%

GST Rates on Services

Here we will give the details about the GST Rates which are applicable on every services.

  • Travelling on metro, local train, religious travel, Haj yatra will all be exempt from GST: revenue secretary, Hasmukh Adhia.
  • AC train travel to get cheaper under GST
  • Transport services (Railways, air transport) will be under the 5% category because their main input is petroleum, which is outside GST ambit.
  • Service tax on non-AC hotels will 12%, on AC hotels that serve liquor will be 18%. Higher tax rate for luxury hotels.
  • Hotels and lodges with tariff below Rs 1,000 will be exempt. Those with Rs 2,500-5,000 will be 18%. Luxury hotels will face tax of 28%.
  • 28% tax on 5-star hotels, race club betting, cinema.
  • 18% tax  for telecom, financial services
  • Healthcare and education have been exempted from the service list. Most service structures will remain as is, said sources. This implies services will become cheaper in some segments.
  • No tax will be imposed on items like 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.

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