List of GST Tax Rates 2017 | Updated GST Tax Slab in India December

GST Rate in India: Here are the tax rates for all goods and services. GST Rates in India 2017 (Item Wise GST List PDF) GST tax slabs range from 0% (Nil ) to 31%.

Last Updated as on 10 November 2017: The GST Council meeting, apart from reviewing GST rates, is also looking into the need to file three income tax returns every month in a bid to make the filing cycle more taxpayer friendly

In New GST Changes, 28% Tax Only For 50 Items Now: Daily use items like shampoo, deodorant, toothpaste, shaving-cream, aftershave lotion, shoe polish, chocolate, chewing gums and nutritious drinks would become cheaper. Lowering tax rates on food served in air-conditioned restaurants to 12 per cent, down from 18 per cent.

  • Service providers with turnover up to Rs.20 lakh need not register even if making interstate supplies.
  • More time for filling returns for those under composition scheme.
  • Refunds to be released every month
  • E-wallet facility by APR
  • No Tax on duty free scrips
  • Merchant exporters need to pay 0.1% tax on domestic goods procurement.
  • E-way bill to be rolled out from 1 April, 2018
  • A committee to review the levy on restaurants.

GST Tax Slab Rates List 2017: 5%, 12%, 18% and 28%. Taxes to be subsumed under GST are Excise Duty, Service Tax, Central Sales Tax, Surcharge & Fees, VAT, Taxes on Lottery, Luxury Tax, Entry Tax, Entertainment Tax (These are the parts of Central Tax & State Tax). Category wise products GST Rates List updated (Click Here). Small retailers not hurry in stock up fresh inventory due to unclear vision on GST. Honda Activa & Unicorn prices may drop by 3 – 5% after 1 july 2017.




Updated New GST Rates as on 07 October 2017

The GST council on Friday announced major cuts in taxes of 27 items along with a slew of relief measures to support exporters and small businesses. Here are some items that are set to get cheaper under GST:

Description Present GST Rate New GST Rate
Mangoes sliced dried 12% 5%
Khakra & plain chapati / roti 12% 5%
Packaged Food 18% 5%
Namkeens 12% 5%
Ayurvedic, Unani, Siddha, Homeopathy medicines 12% 5%
Poster Color 28% 18%
Modelling Paste for children amusement 28% 18%
Plastic Waste, Pairing & Scraps 18% 5%
Rubber Waste, Paring & Scrap 18% 5%
Hard Rubber Waste 28% 5%
Paper Waste & Scrap 12% 5%
Duty Credit scrips 5% Nil
Sewing thread of manmade filaments 18% 12%
All synthetic filament yarn, such as nylon, polyester, acrylic 18% 12%
All artificial filament yarn, such as viscose rayon, cuprammonium 18% 12%
Sewing thread for manmade staple fibres 18% 12%
Yarn of manmade staple fibres 18% 12%
Real Zari 12% 5%
Floor Tiles 28% 18%
Cullet or other waste of glass 18% 5%
Fittings for loose leaf binders, or files, letter clips, letter corners, paper clips, staple in strips, 28% 18%
Plain shaft bearing 8483 28% 18%
parts suitable for use solely or principally with fixed speed diesel engine of power not exceeding 15HP 28% 18%
parts for Pumps 28% 18%
E-waste 28% / 18% 5%
Biomass briquettes 18% 5%

Firms face ban for not passing on GST gains. HIGHLIGHTS = (1) The cancellation of registration is in addition to the power to levy penalty, (2) Tax practitioners said that cancellation of registration is too harsh, (3) The tax regime will get a mega launch on the night of June 30.

Update of 19 June 2017: GST Council relaxes filing norms for 2 months – GST Council has announced the relaxation of 2 months for filing GST returns by the taxpayers. It means no late fees will be charged till September, 2017 from the taxpayers who going to fill GST.




Impact of GST on Household Expenses

Category Before GST After GST
Food 12.5% 5.00%
Entertainment 30.00% 28.00%
Transportation 15.00% 18.00%
Household – Personal Care 28.00% 18.00%
Mobile Phone 15.00% 18.00%
Insurance Premium 15.00% 18.00%
Credit Card Bills 15.00% 18.00%

SCHEDULE OF GST RATES FOR SERVICES AS APPROVED BY GST COUNCIL

The fitment of rates of services were discussed on 19 May 2017 during the 14th GST Council meeting held at Srinagar, Jammu & Kashmir. The Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28% as listed below. The information is being uploaded immediately after the GST Council’s decision and it will be subject to further vetting during which the list may undergo some changes. The decisions of the GST Council are being communicated for general information and will be given effect to through gazette notifications which shall have force of law.



New GST Rates are applicable in all over India – New Delhi, Haryana, Assam, Mizoram, Nagaland, Manipur, West Bengal, Uttrakhand, Rajasthan, Himchal Pradesh, Punjab, Maharashtra, Kerala, Telangana, Tamilnadu, Odisha, Kanyakumari, Goa, Chandigarh, Bihar, Uttar Pradesh, Arunachal Pradesh, Gujarat, Andhra pradesh, Meghalaya. Tripura, Chattishgarh and Madhya Pradesh. Only Jammu kashmir are exempt.

Description of Services
GST RATE with ITC of input services
Transport of goods by rail 5%
Transport of passengers by rail (other than sleeper class) 5%
Services of goods transport agency (GTA) in relation to transportation of goods [other than used household goods for personal use] 5% No ITC
Services of goods transport agency in relation to transportation of used household goods for personal use. 5% No ITC
Transport of goods in a vessel including services provided or agreed to be provided by a person located in non-taxable territory to a person located in non-taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India 5%
Renting of motorcab (If fuel cost is borne by the service recipient, then 18% GST will apply) 5% No ITC
Transport of passengers, by-

(i) Air conditioned contract/stage carriage other than motorcab

(ii) A radio taxi

5% No ITC
Transport of passengers by air in economy class 5% with ITC of input services
Transport of passengers, with or without accompanied belongings, by air, embarking from or terminating in a Regional Connectivity Scheme Airport. 5%
Supply of tour operators’ services 5% No ITC
Leasing of aircrafts under Schedule II [5 (f)] by a scheduled airlines for scheduled operations 5% with ITC of input services
Selling of space for advertisement in print media 5%
Services by way of job work in relation to printing of newspapers 5%
Transport of goods in containers by rail by any person other than Indian Railways 12%
Transport of passengers by air in other than economy class 12%
Supply of Food/drinks in restaurant not having facility of air-conditioning or central heating at any time during the year and not having licence to serve liquor. 12%
Renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes having room tariff Rs.1000 and above but less than Rs.2500 per room per day 12%
Services provided by foreman of chit fund in relation to chit 12% with ITC of input services
Construction of a complex, building, civil structure or a part thereof, intended for sale to a buyer, wholly or partly. [The value of land is included in the amount charged from the service recipient] 12% With Full ITC but no refund of overflow of ITC
Temporary transfer or permitting the use or enjoyment of any Intellectual Property (IP) to attract the same rate as in respect of permanent transfer of IP 12%
Supply of Food/drinks in restaurant having licence to serve liquor 18%
Supply of Food/drinks in restaurant having facility of air-conditioning or central heating at any time during the year 18%
Supply of Food/drinks in outdoor catering 18%
Renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes where room tariff of Rs 2500/ and above but less than Rs 5000/- per room per day 18%
Bundled service by way of supply of food or any other article of human consumption or any drink, in a premises (including hotel, convention center, club, pandal, shamiana or any other place, specially arranged for organizing a function) together with renting of such premises 18%
Services by way of admission or access to circus, Indian classical dance including folk dance, theatrical performance, drama 18%
Composite supply of Works contract as defined in clause 119 of section 2 of CGST Act 18%
Services by way of admission to entertainment events or access to amusement facilities including exhibition of cinematograph films, theme parks, water parks, joy rides, merry-go rounds, go-carting, casinos, race-course, ballet, any sporting event such as IPL and the like 28%
Services provided by a race club by way of totalizator or a licensed bookmaker in such club 28%
Gambling 28%
Supply of Food/drinks in air-conditioned restaurant in 5-star or above rated Hotel 28%
Accommodation in hotels including 5 star and above rated hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes, where room rent is Rs 5000/- and above per night per room 28%
Transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration (supply of service) to attract the same GST rate and compensation cess as applicable on supply of similar goods which involves any transfer of title in goods (supply of goods) GST and compensation cess as on supply of similar goods
Any transfer of right in goods or of undivided share in goods without the transfer of title thereof (supply of services) to attract the same GST rate and compensation cess as applicable on supply of similar goods which involves any transfer of title in goods (supply of goods). GST and compensation cess as on supply of similar goods
Supply consisting of transfer of title in goods under an agreement which stipulates that property in goods shall pass at a future date upon payment of full consideration as agreed (supply of goods): value of leasing services shall be included in the value of goods supplied. GST and compensation cess as on supply of similar goods
All other services not specified elsewhere 18%

SCHEDULE OF GST RATES FOR GOODS AS APPROVED BY GST COUNCIL

Milk, cereals, fruits, vegetable, jaggery (gur), food grains, rice and wheat, spices, tea, coffee, sugar, vegetable/ mustard oil, newsprint, coal and Indian sweets, Silk and jute fibre Nil
Gold, Silver and Processed Diamonds 3%
Railway freight, Pharma (Life saving drugs), Footwear up to Rs. 500, Cotton and natural fibre 5%
Packaged foods like pickles, tomato sauce, mustard sauce and fruit preserves, Ayurvedic and homeopathy medicines, Processed foods, Fruit juices, live animals, meats, butter & cheese, Mobile phones, Ready-made garments 12%
Footwear above Rs. 500, hair oil, soaps, toothpaste and shampoos, chemical and industrial use intermediaries, LPG stoves, military weapons, electronic toys, Pastries, cakes, pasta, ice creams, soups, Man made fibre and yarn 18%
White and brown goods like TV, refrigerator, AC, washing machines, microwave ovens, soft drinks and aerated beverages, Cement, Perfumes, revolver, pistols, Chocolates, chewing gum, waffles containing chocolate 28%
Luxury and de-merits goods and sin category items e.g. tobacco, pan masala 28% + Cess
Small cars – petrol driven 28% + 1% cess
Small cars – diesel driven 28% + 5% cess
Cigarettes 28% + 5% cess
Luxury cars 28% + 15% cess
Heavy bikes, Luxury yachts, private jets 31%

Service Tax Exemptions to be continued in GST as decided by GST Council

  1. Services by Government or a local authority excluding the following services—
  2. Services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government.
  3. Services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport.
  4. Transport of goods or passengers.
  5. Any service, other than services covered under clauses (i) to (iii) above, provided to business entities.
  6. Services by the Reserve Bank of India.
  7. Services by a foreign diplomatic mission located in India.
  8. Services relating to cultivation of plants and rearing of all life forms of animals, except the rearing of horses, for food, fibre, fuel, raw material or other similar products.
  9. Service by way of access to a road or a bridge on payment of toll charges.
  10. Transmission or distribution of electricity by an electricity transmission or distribution utility.
  11. Services by way of renting of residential dwelling for use as residence.
  12. Services by a veterinary clinic in relation to health care of animals or birds.
  13. Services by an entity registered under section 12AA of the Income tax Act, 1961 (43 of 1961) by way of charitable activities, Charitable activities may be defined as presently in notification No 25/2012-ST.
  14. Services provided by a tour operator to a foreign tourist in relation to a tour conducted wholly outside India.
  15. Services by way of public conveniences such as provision of facilities of bathroom, washrooms, lavatories, urinal or toilets.
  16. Services by way of pre-conditioning, pre-cooling, ripening, waxing, retail packing, labelling of fruits and vegetables which do not change or alter the essential characteristics of the said fruits or vegetables.
  17. Services provided by Employees Provident Fund Organisation (EPFO) to persons governed under the Employees Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952).

GST Return Filing Details

Return for the Month Form GSTR-1 Form GSTR-2 Form GSTR-3
July 2017 5 August 10 August 15 August
August 2017 20 September 25 September 30 September

News About GST India December 2017

The restaurant sector has proposed to the GST Council that the tax rate should be brought down to 12% along with input tax credit. At present, eateries pay 18% GST but are entitled to input credit. The government is not keen on 12% GST as restaurants have not passed on the benefit of input credit to customers. The government feels a relaxation could cost it Rs 15,000 crore in revenue. It also feels the industry has not passed on the benefit of input tax credit by cutting prices. But there are indications that government may accept the industry's demand but increase surveillance to ensure benefits are passed on to customer.

The council can reduce late fee for filing returns from Rs 200 to Rs 50. It can further simplify product codes. It is also likely to provide incentives for payments that are settled electronically to promote digital economy. There is indication that the council can bring real estate under GST.

Finance minister Arun Jaitley says there's scope to reduce slabs for Goods and Services Tax (GST). Reducing the tax slabs does make perfect sense. It would simplify the tax system: make it transparent, efficient and tax payer-friendly.

We currently have four slabs fixed for GST, a low rate of 5 per cent, two standard rates of 12 per cent and 18 per cent, and a high rate of 28 per cent. It would make sense to drop middling 12 per cent and 18 per cent rates and opt for 16 per cent as the standard rate to be levied on most items. It would also be desirable to reduce the peak rate.

Note that apart from the four-rate slab structure in the GST regime, we also have 0 per cent on certain items of mass consumption, 3 per cent on gold and jewellery, and additional cess on high-end consumption items like automobiles.

The government needs to put out a discussion paper on how it proposes to go about reducing the GST slabs and lowering the rates. The way forward is to have three slabs in the GST structure, and prune the rates at either end. We need to boost tax buoyancy, but also make sure that there is revenue neutrality.

Interest rates that money lenders charged borrowers hardly budged for decades irrespective of policy decisions. But even that is collapsing faster than what it is in the formal banking system, thanks to the implementation of Goods and Services Tax.

Borrowing in the informal market is no more lucrative. Lenders who fund small traders and merchants have lowered their rates to just a third of what they were charging, but still the demand is not showing up.

Rates have dipped to a third to 6 per cent from 9-18 per cent about 6-9 months ago, said two dealers aware of the market dynamics.

"Those businessmen have now limited options to run operations in cash especially after GST implementation and demonetisation," said a textile business owner, who did not want to be identified.

"From a local politician to an industrialist or local trader whoever has additional unaccounted cash are normally the lenders in this informal loan market."

A huge army of businessmen borrowed in an informal market from money lenders to avoid getting trapped by the banking system and the tax department. This was known as 'Kachha Credit' among practitioners.

Maruti Suzuki passes on GST benefits, reduces prices of vehicles by up to 3%.

Due to withdrawal of tax concessions on mild hybrid vehicles, the price of Smart Hybrid Ciaz Diesel and Smart Hybrid Ertiga Diesel has increased.

The new prices are effective from July 1, 2017.

The government has lowered interest rate on small saving schemes by 10 basis points for the July-September quarter.

A finance ministry notification said investments in the public provident fund (PPF) scheme will fetch lower annual rate of 7.80%. Kisan Vikas Patra (KVP) investments will yield 7.50% and mature in 115 months.

Term deposits of 1-5 years will fetch a lower 6.80-7.60% that will be paid quarterly while the 5-year recurring deposit has been pegged lower at 7.10%. The investment on 5-year Senior Citizens Savings Scheme will yield 8.30%. The interest rate on the senior citizens scheme is paid quarterly.

Prices of Honda Activa and Unicorn, among other scooters and motorcycles, are expected to go down in the range of 3-5% percent from July 1 with the adoption of Goods and Services Tax (GST), a senior official of the company said.

Financial services and telecom have been put in the 18% GST slab, while customers currently pay 15% for such services. SBI Card has sent SMS to its customers alerting about the higher incidence of tax. Banks like Standard Chartered and HDFC are also sending messages related to GST to their customers.

The Narendra Modi government has put the Opposition parties in a fix. After becoming part of the wide consensus over the government’s push for the Goods and Services Tax (GST), now they are shying away, trying to distance themselves from the mega GST launch function on Friday midnight. By having Manmohan Singh by his side, PM Modi will also blunt any future criticism of the GST by the Congress.

Small retailers are still grappling with the goods and services tax, which will come into effect from 1 July. With a few days left for GST to come into effect, retailers are still in the dark about the details and are refraining from restocking. However, it is unlikely to hit consumers yet.

Few players in the restaurant industry are losing business due to GST regime but others say that business has been usual. Under the new tax regime, 12 percent GST is applicable to non-AC restaurants and 18 percent to AC ones. Earlier, hotels taxed food at 11 percent including 5 percent value added tax (VAT) and 6 percent service tax after some rebate.

The first set of numbers after the rollout of the goods and services tax should calm any jitters about its prospects. Integrated goods and services tax (IGST) collections on imports in the first 10 days of the new regime crossed Rs 4,000 crore, in line with expectation and suggests that the rollout has been largely smooth. “Collections would have crossed Rs 4,000 crore... Data is pouring in and final tabulations will be available in some time,” a senior government official told ET.

Luxury cars, SUVs see stronger sales ahead of a price hike the government moves ahead with proposal to hike the GST cess on such vehicles. In its meeting earlier this month, the GST Council proposed to hike the surcharge on luxury cars and sport utility vehicles by as much as 25% from the current 15%. Raising the cess, however, requires an amendment to the GST (Compensation to a State) Act, 2017. The Cabinet approved an ordinance to amend the law and the GST Council will decide when the hike will be applicable, Union finance minister Arun Jaitley said on Wednesday,

Guide to filing GST returns : News Date 27 June 2017
Those who need not bother at all about the details

Nearly 80 per cent of all businesses will either not have to file any return or just once in three months. Yes, that’s all.
a) Those with a turnover below Rs 20 lakh need not file any return. Their life will not change at all after July 1.
b) If your turnover is more than Rs 20 lakh and below Rs 75 lakh, you can plain ignore all the details. Why? Because you need to file just one return in three months —yes, just four returns in a year. And you need not give any details of invoices. If you opt for the composition scheme, you will deposit a lumpsum amount in tax without giving too many details to the government. You need to disclose just the total turnover.

Auto Industry Prices after GST 2017

Vehicle Current Price New Price
Mercedes GLS 350 83 L 80 L
Mercedes E Class 55.7 – 69 L 53.7 – 67 L
Toyota Fortuner 26.6 – 31.9 L 24.5 – 29.8 L
Toyota Innova Crysta 14.2 – 21.4 L 13.3 – 20.5 L
Hyundai Creata 9.3 – 14.6 L 8.9 – 14 L
Hero Super Splendor 55.6 K 53 K
Triumph Street Twin 7 L 7.15 L
Honda Activa 48.3 K 44.9 K
Royal Enfield 350 1.34 L 1.35 L
Royal Enfield 500 1.71 L 1.75 L

User Search Query for GST November 2017

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3 thoughts on “List of GST Tax Rates 2017 | Updated GST Tax Slab in India December

  • June 22, 2017 at 10:30 pm
    Permalink

    great article, all information on same page. keep it up.

    Reply
  • June 23, 2017 at 10:21 am
    Permalink

    Is there any changes in Honda Activa prices after GST ..?

    Reply
    • June 23, 2017 at 10:35 am
      Permalink

      Yes, Honda Activa & Honda Unicorn prices may be drop by 3 – 5% of ex showroom price after 1st july 2017.

      Reply

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