GST rates – Comparative analysis

Comparative analysis of GST rates approved previously and the rates revised now

GST rates comprehensive analysis

For ensuring the proper roll out and implementation of Goods and Service Tax (GST), the GST council set up by government has been holding up several meetings for discussing and resolving out all such hurdles coming in the way of successful launch of GST. In its latest meeting (16th) on 11.07.2017, the GST council took decisions on several important topics on GST that can lay deep effect on the lives of a common man. Among all such decisions taken by the council in this meeting, revision of GST rates has been the highlight of the meeting. Here is a list of revised rates approved by the GST council:

S. No. Chapter / Heading / Subheading/

Tariff item

Description of goods Previous

GST rate

 

Revised

GST Rate

approved by

the GST

Council

1 0506, 0507

90

Bones and horn cores, bone grist, bone meal,

etc.; hoof meal, horn meal, etc.

5% 0%
2 0801 Cashew nut 12% 5%
3 0801 Cashew nut in shell 12% 5% (under reverse charge)
4 0806 Raisin 12% 5%
5 1104 Cereal grains hulled 5% 0%
6 1702 Palmyra jaggery 18% 0%
7 20 (All goods) Preparations of vegetables, fruits, nuts or

other parts of plants, including pickle,

murabba, chutney, jam, jelly

18% / 12% 12%
8 2103, 2103

00, 2103 90

90

Ketchup & Sauces [other than curry paste;

mayonnaise and salad dressings; mixed

condiments and mixed seasonings], Mustard

sauces

18% 12%
9 2103 90 10,

2103 90 30,

2103 90 40

Curry paste; mayonnaise and salad dressings;

mixed condiments and mixed seasonings

28% 18%
10 2106 Bari made of pulses including mungodi 18% 12%
11 2201 90 10 Ice and snow 12% 5%
12 2501 Salt, all types 5% 0%
13 27 Bio gas 12% 5%
14 28 Dicalcium phosphate (DCP) of animal feed

grade conforming to IS specification

No.5470 : 2002

12% 0%
15 30 Insulin 12% 5%
16 29, 30, 3302 (i) Menthol and menthol crystals,

(ii) Peppermint (Mentha Oil),

(iii) Fractionated / de-terpenated mentha oil

(DTMO),

(iv) De-mentholised oil (DMO),

(v) Spearmint oil,

(vi) Mentha piperita oil

18% 12%

 

17 3304 20 00 Kajal [excluding kajal pencil sticks] 28% Nil
18 3304 20 00 Kajal pencil sticks 28% 18%
19 3307 Agarbatti 12% 5%
20 3407 Dental wax 28% 18%
21 3822 All diagnostic kits and reagents 18% 18%
22 3926 Plastic beads 28% 12%
23 3926 90 99 Plastic Tarpaulin 28% 18%
24 4202 (i) School satchels and bags other than of

leather or composition leather;

(ii) Toilet cases [4202 12 10];

(iii) Hand bags and shopping bags of

artificial plastic material [4202 22 10],

of cotton [4202 22 20], of jute [4202 22

30], vanity bags [4202 22 40];

(iv) Handbags of other materials excluding

wicker work or basket work [4202 29

10].

28% 18%
25 4820 Exercise books and note books 18% 12%
26 4823 Kites 12% 5%
27 4903 Children’s’ picture, drawing or colouring

books

12% Nil
28 57 Coir mats, matting and floor covering 12% 5%
29 65 (All goods) Headgear and parts thereof 28% 18%
30 6703 Human hair, dressed, thinned, bleached or

otherwise worked

28% 0%
31 68 Fly ash blocks 28% 12%

Also See : GST Composition Scheme

These are some of the many goods for which the GST rates have been revised by the GST council. You can get to know about revised GST rates of many other items as well by clicking on the below mentioned link: http://www.cbec.gov.in/resources//htdocs-cbec/gst/gst_rates_approved%20_by_gst_council%20_11.06.2017.pdf

This link will provide you with comparative analysis of GST rates which were approved previously and the rates which are prevailing now. You can get to know which goods will be cheaper for you and which items will become expensive.

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