The GST Council, the apex decision-making body for the new tax, has fixed the tax framework under the Goods and Services Tax (GST) which is to be rolled out this July 1. Tax rates have been finalised for 1,211 items with a majority of items being kept under the 18 per cent slab. The Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28%. GST rates for certain goods like textile, footwear, biris, Biscuits, precious metals, etc. are yet to be decided by the GST Council. The rates of all 1,211 items but six were finalised at the first day of the two-day meeting in Srinagar of the GST Council, headed by Union Finance Minister Arun Jaitley and comprising state representatives. The GST Council has broadly also approved the rates of GST Compensation Cess to be levied on certain goods. Summary of GST rate card.

1. Goods and Services Tax (GST) rates as on 18-05-2017
CA Narayan Lodha, Chartered AccountantPrivileged and Confidential
Good and Service Tax (GST)
The GST Council, the apex decision-making body for the new tax, has fixed the tax framework
under the Goods and Services Tax (GST) which is to be rolled out this July 1. Tax rates have been
finalised for 1,211 items with a majority of items being kept under the 18 per cent slab. The
Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28%.
GST rates for certain goods like textile, footwear, biris, Biscuits, precious metals, etc. are yet to
be decided by the GST Council.
The rates of all 1,211 items but six were finalised at the first day of the two-day meeting in
Srinagar of the GST Council, headed by Union Finance Minister Arun Jaitley and comprising
state representatives.
The GST Council has broadly also approved the rates of GST Compensation Cess to be levied on
certain goods.
Summary of GST rate card.
Slab I : Nil rate (0%) :-
No tax will be imposed on items like Bread, milk, butter milk,fresh meat, fish chicken, eggs,
curd, natural honey, fresh fruits and vegetables, flour, besan, prasad, salt, bindi. Sindoor,
stamps, judicial papers, printed books, newspapers, bangles, handloom etc.
Slab II: 5% :-
Items such as fish fillet, cream, skimmed milk powder, branded paneer, frozen vegetables,
coffee, tea, spices, pizza bread, rusk, sabudana, kerosene, coal, medicines, stent, lifeboats etc.
Slab III: 12%:
Frozen meat products , butter, cheese, ghee, dry fruits in packaged form, animal fat, sausage,
fruit juices, Bhujia, namkeen, Ayurvedic tooth powder, agarbatti, colouring books, picture
books, umbrella, sewing machine, and cellphones etc.
Slab IV: 18%:
Most 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 etc.

2. Goods and Services Tax (GST) rates as on 18-05-2017
CA Narayan Lodha, Chartered AccountantPrivileged and Confidential

3. Goods and Services Tax (GST) rates as on 18-05-2017
CA Narayan Lodha, Chartered AccountantPrivileged and Confidential
Slab V: 28%:
Chewing gum, molasses, chocolate not containing cocoa, waffles and wafers coated with
choclate, 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 etc. will attract 28 per cent tax -
the highest under GST.
For more details and reference please refer to my Presentations at Slide share
1) Presentation on GST https://www.slideshare.net/narayanlodha/a-presentation-on-gst
2) Input Credit under GST https://www.slideshare.net/narayanlodha/1-presentation-on-input-tax-
credit-under-gst
3) Chapter wise rate of GST as on 18 05 2017 https://www.slideshare.net/narayanlodha/chapter-
wiseratewisegstschedule18052017
4) GST Compensation Cess to be levied on certain goods
https://www.slideshare.net/narayanlodha/gst-compensationcessrates18052017
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#indirecttax, #law, #narayanlodha, #taxation, gst, gstrates, india,

4. Goods and Services Tax (GST) rates as on 18-05-2017
CA Narayan Lodha, Chartered AccountantPrivileged and Confidential
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