GST Rates Released Applicable In India 2017 (Item Wise List) Goods Services Tax

GST Rates in India for 2017 have been provided as Item Wise list and available in PDF Download. The Rates of GST is different for Goods and Services. All GST Rates in India can be categorized into Five. One of the most famous category is the Zero Rate GST (Also called as GST Exemption Goods) which includes farm produce etc. 18% GST Rates has been specified for most number of products. You should understand that, these GST Rates will be changed every year based on the feedback from the suppliers and the representatives of the State Governments of India.

GST Rates List Item Wise India 2017

  1. 0% GST Rate – Milk, Meat, Sindoor etc.
  2. 18% GST Rate – Paneer, Stent, Vegetables etc.
  3. 12% GST Rate – Agarbatti, Bhutia, Animal Fat etc.
  4. 18% GST Rate – Cameras, Steel Products, Mineral Water.
  5. 28% GST Rate – Automobiles, ATM, Shampoos etc.

GST Rates for Motor Cycles and Water Heaters

The Central Government has fixed a standard 28% GST rate for Motor Cycles (Two Wheeler) and also for Water Heaters (Geyser).

GST Rate on Tobacco

The Rates of GST on Tobacco Products has been fixed at 5%. However, the CG has decided to limit the rate of cess on tobacco products at INR 4,170 per 1,000 sticks or 290 % ad valorem.

GST Rate on Gold & Jewellery

The GST Council has not yet decided on the rate of GST on Gold and Jewellery Products in India.

If the customer returns the jewellery to the seller, the 18% tax paid at the time of purchase can not be regained. In other words, the value of the jewellery will reduce by 18% GST paid at the time of purchase.

Hence, the buyers will get severely impacted. The government is still mulling over the mechanism for GST. Therefore, this impact is tentative and may change as more information flows in on GST rules.

As per the present information, under GST, gold ornaments would be subject to 18% tax, which the jeweller can adjust with input credit. This 18% tax has to be borne by the end customers. Therefore, the final prize of the jewellery increases.

GST Rate on Cars Automobiles

The Cars and Automobiles in India are going to attract the highest rate of GST, that is 28% tax bracket.

Unlike the multiple incidence of taxation levied currently, the new tax structure will see a uniform rate of 28 per cent on cars, said a person with knowledge of the decisions made at the GST Council meeting. An additional cess of 1 per cent and 3 per cent is being discussed for levy on small petrol and diesel cars, respectively.

Products Attracting 12% GST Rates

  • Frozen meat products
  • Butter, cheese, ghee
  • Dry fruits in packaged form
  • Animal fat
  • Sausage
  • Fruit juices
  • Bhutia
  • Namkeen
  • Ayurvedic medicines
  • Tooth powder
  • Agarbatti
  • Colouring books
  • Cell Phones

Products Attracting 18% GST Rates

Flavored 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.

Products Attracting 28% GST Rates

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.

Products Attracting 0% GST Rates

Fresh meat, fish chicken, eggs, milk, butter milk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, prasad, salt, bindi. Sindoor, stamps, judicial papers, printed books, newspapers, bangles, handloom.

GST Rates are Standard Across

The above mentioned GST Rates appply to all the following States such as  Andhra Pradesh (AP), Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Goa, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra Manipur, Meghalaya, Mizoram, Nagaland, Odisha (Orissa), Punjab, Rajasthan, Sikkim, Tamil Nadu (TN), Telangana, Tripura, Uttar Pradesh  (UP East & UP West), Uttarakhand, West Bengal(WB).

GST would not be charged at every point of sale like other indirect taxes so in this way, market would be developed.

The introduction of GST in the country will impact real estate market. This would increase new home buying price by 8% and reduce buyers’ market by 12%.

There is no doubt that in production and distribution of goods, services are increasingly used or consumed and vice versa.

Separate taxes for goods and services, which is the present taxation system, requires division of transaction values into value of goods and services for taxation, leading to greater complications, administration, including compliance’s costs.

In the GST system, when all the taxes are integrated, it would make possible the taxation burden to be split equitably between manufacturing and services.

28% rates on white goods llike airconditioners, refrigerators, washing machines, soaps and detergents, tobacco, tobacco products, pan masala, aerated drinks, luxury cars will be taxed 28% which have been taxed 30% to 31% now.

People will buy more vehicles so profitability of company will increase. So its good for company.

With inter-state entry tax being abolished under GST, the operational efficiency of the current fleet of transporters will increase, thereby reducing the demand for commercial vehicles in the long term. So,GST will impact the truck sales as it will reduce the time spent by trucks at checkpoints.

Conclusion : GST Rates 2017

GST bill is good for auto sector. Because it will reduce tax to maximum 18%. So vehicle will become cheaper. If you have any further questions on ‘GST Rates India Item Wise List’ editorial, post your question on our comments section below.