GST-Tax Rates Item Wise List

June 29, 2017

   **GST rates item wise list 
Under GST, goods and services will be taxed at the following rates, 5%, 12%, 18%, 28%.

Special rate of 0.25% on rough precious and semi-precious stones and 3% on Gold.

GST will be levied on petroleum and petroleum products (daily changes in fuel prices in India).

GST on Electronics (28% GST Slab) 
Smart Phones = Currently tax of around 13.5% on Smartphones, but it will come down to 12% after 30 June 2017.

DSLR Camera, IT Electronics appliances Laptops, Computers, Monitors, Speakers.

Home Electronics appliances = TV, Washing machines, Refrigerators, Vacuum Cleaner, Dish Washers, Iron, Water Heater, Mixer, Toaster, Weighting Machine, Shavers, Trimmer.

GST on Medicines (12% GST Slab) 
Presently Tax on Medicines 14%. but with GST , It will come down to 12%.

GST on Two-Wheelers & Cars (29% GST Slab) 
Presently Tax on Bike & Scooters 30%(Now) but, with GST It will come down to 28%.
Small Cars 40% (Now) but, after effect with GST It will come down to 29%.
Luxury Cars 46% (Now with surcharge) but, after effect with GST It will come down to 43%.

GST on Clothes-Dresses (5% or 12% GST Slab) 
5% GST Tax on Bellow 1000Rs Cloths.
But with high-end cloths it will increased 8% (Now) to 12% (GST Slab).

GST on Entertainments (5% or 18% GST Slab)
For Cinema, Theater, Cable, DTH(Direct-To-Home) all entertainment tax will come down 36%(Now) to 18%(GST Slab).

GST on  Restrurents (5% or 12%GST Slab) 
Which restaurants have yearly income bellow 75 lakhs ,they will pay 5% GST Tax.
For High-end AC-restaurants it will increased Upto 12% (GST Slab).

GST on  Plane-Services (5% or 12%GST Slab) 
For Echonomy-Class it will decreased 5.60%(Now) to 5% (GST Slab).
For Business-Class it will increased 8.40%(Now) to 12% (GST Slab).

GST on  Train-Services (GST Slab) 
From 1st July 1st-2nd-3rd Classes Train-fare will increased.

GST on  Banking-Services (18% GST Slab) 
Extra Tax will Pay for Banking-Services(like: Demand Draft & Fund Transfer) Now 15% Tax , after GST it will increased at 18%.

GST on  Real Estate (12% GST Slab) 
All under-construction properties will be charged at 12% (excluding stamp duty and registration charges)


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