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A Complete List Of Items That Will Now Cost Less
There will be a sharp reduction in prices of items after this major revamp in respect of GST rates.
In its two day meet at Guwahati, the GST Council on Friday slashed rates on a gamut of consumer products from groceries to personal care to other household items. Here's a ready reckoner for your easy reference:
As many as 228 items were previously placed in the highest slab rate of 28% of which rate cuts have been effected in 178 items to be now levied 18% GST. Item in this bracket include electrical boards, panels, wires; furniture, mattresses, bedding; suitcases, briefcases; detergents, washing and cleaning stuff; razors and razor blades; multi-functional printers, cartridges; shampoo, hair cream, dyes; perfumes, beauty or make up products; electrical fixtures; sanitary ware, marble, granite, ceramic tiles; wrist watches, leather clothing; cutlery, stoves, cookers; door, window and frames of aluminium; mirror, safety glass, sheets and glassware; exercise equipment, musical instruments and their parts; artificial flowers, fruits and foliage; cocoa butter, fat; chocolates, chewing gum; gocggles, binoculars and telescope.
Pre-GST rate on toiletries was anyway between 15-24% while detergents and chocolates attracted a tax rate of 26-27%. Now, as the taxes for these products have been slashed to 18%, a sharper reduction in prices shall be eminent.
Some 50 items from white goods, luxury goods, sin and demerit goods and automobiles and their parts have been retained in the highest slab rate of 28%.
Two items wet grinders and tanks and armoured fighter vehicles have been shifted from the 28%-12% slab rate.
13 items will now be taxed @ 12% from the erstwhile 18% including condensed milk, refined sugar, pasta, curry paste, diabetic food, bamboo and cane furniture, printing inks, spectacle frames and hats. For six items, the new rates are 5% that include chikki, revedi, khaja, chutney powder, fly ash.
Six items will now charge no GST including guar meal, fish frozen or dried, khandsari sugar
Some other goods in the 12% tax bracket will now be levied just 5% tax under the new regime including idli, dosa batter, dessicated cocounut, fishing net and hooks and finished leather.
The Council has also slashed rates on standalone restaurants to 5%. The Council also simplified return filing procedure for small firms. Also, it widened the scope of its composition scheme.
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