GST council has revised GST rate more than 66 items in its meeting held on 11th June 2017. In its meeting council has revised the rate downward on most of the items. Rates on most goods has come down from higher rate to comparatively lower rate. In some cases rate has come down from 28% to 0% also.
Suresh Nandlal Rohira, Partner, Grant Thornton India LLP on the outcome of 16th GST council meeting said that “With the 16th GST Council meeting, one sees a positive change which is welcoming as there is a revision in the rate downwards for almost 66 items, keeping in mind the representation and also utilization in credits for those items. Further, there is an increase in threshold for Composition Scheme from 50 Lacs to 75 lacs, which is a good move. Although, the representations on rates have been reciprocated, the Council needs to now accept the additional time needed by the Industry to prepare, as many are yet to gear-up from a Systems standpoint i.e. Invoicing, maintaining GST registers and filing returns on day 40th from July 1st. Consequently, the Council should think of innovative means to comfort the industry by voicing that revision would be allowed for a quarter without any penal consequences, and it would put all the concerns to rest.”+
Other News from GST Council Meeting on 11.06.2017
» GST Service: Amendment in Tax / Registration exemption and Rates
» GST: Revised Threshold for Composition Scheme – 11.06.2017
» IGST Exemptions approved by GST Council – 11.06.2017
» Account and Records: Final GST Rules with Format of Forms
» Final GST Registration Rules and Format of Forms
REVISED GST RATE FOR CERTAIN GOODS
[As per discussions in the 16th GST Council Meeting held on 11th June, 2017]
| S. No. | Chapter / Heading / Sub- heading / Tariff item |
Description of goods | Earlier GST rate approved by the GSTCouncil |
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 [other than 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% | 12% |
| 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% |
| 32. | 6810 11 90 | Pre cast Concrete Pipes | 28% | 18% |
| 33. | 6906 | Salt Glazed Stone Ware Pipes | 28% | 18% |
| 34. | 7015 10 | Glasses for corrective spectacles and flint buttons | 18% | 12% |
| 35. | 71 | Rough precious and semi-precious stones | 3% | 0.25% |
| 36. | 7607 | Aluminium foil | 28% | 18% |
| 37. | 8215 | Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs |
18% | 12% |
| 38. | 8308 | All goods, including hooks and eyes | 28% | 18% |
| 39. | 84 | Pawan Chakki that is Air Based Atta Chakki | 28% | 5% |
| 40. | 84 | Fixed Speed Diesel Engines | 28% | 12% |
| 41. | 4011 | Rear Tractor tyres and rear tractor tyre tubes | 28% | 18% |
| 42. | 8708 | Rear Tractor wheel rim, tractor centre housing, tractor housing transmission, tractor support front axle | 28% | 18% |
| 43. | 8423 &
9016 |
Weighing Machinery [other than electric or
electronic weighing machinery] |
28% | 18% |
| 44. | 8443 | Printers [other than multifunction printers] | 28% | 18% |
| 45. | 8482 | Ball bearing, Roller Bearings, Parts & related accessories | 28% | 18% |
| 46. | 8504 | Transformers Industrial Electronics | 28% | 18% |
| 47. | 8504 | Electrical Transformer | 28% | 18% |
| 48. | 8504 | Static Convertors (UPS) | 28% | 18% |
| 49. | 8521 | Recorder | 28% | 18% |
| 50. | 8525 | CCTV | 28% | 18% |
| 51. | 8525 60 | Two-way radio (Walkie talkie) used by defence, police and paramilitary forces etc. | 28% | 12% |
| 52. | 8528 | Set top Box for TV | 28% | 18% |
| 53. | 8528 | Computer monitors not exceeding 17 inches | 28% | 18% |
| 54. | 8539 | Electrical Filaments or discharge lamps | 28% | 18% |
| 55. | 8544 | Winding Wires | 28% | 18% |
| 56. | 8544 | Coaxial cables | 28% | 18% |
| 57. | 8544 70 | Optical Fiber | 28% | 18% |
| 58. | 8472 | Perforating or stapling machines (staplers), pencil sharpening machines | 28% | 18% |
| 59. | 8715 | Baby carriages | 28% | 18% |
| 60. | 9002 | Intraocular lens | 18% | 12% |
| 61. | 9004 | Spectacles, corrective | 18% | 12% |
| 62. | 9017 | Instruments for measuring length, for use in the hand (for example, measuring rods and tapes, micrometers, callipers) | 28% | 18% |
| 63. | 9403 | Bamboo furniture | 28% | 18% |
| 64. | 9504 | Playing cards, chess board, carom board and other board games, like ludo, etc. [other than Video game consoles and Machines] | 28% | 12% |
| 65. | 9506 | Swimming pools and padding pools | 28% | 18% |
| 66. | 9603 10 00 | Muddhas made of sarkanda and phool bahari jhadoo | 5% | 0% |
| 67. | 9704 | Postage or revenue stamps, stamp-post marks, first-day covers, etc. |
12% | 5% |
| 68. | 9705 | Numismatic coins | 12% | 5% |
| 69. | 4823 90 11,
8472, 9101, 9102, 9021 |
Braille paper, braille typewriters, braille watches, hearing aids and other appliances to compensate for a defect or disability [These goods are covered in List 32 appended to notification No.12/2012-Customs, dated 17.03.2012 and are already at 5% GST rate (Chapter 90)] |
– | 5% |
What is the GST tax rate “income from immovable proprety”
is necessary to return file in gst which room rent is below Rs. 1000.00
what is the rates for appears industry? Is govt under process to downsize the earlyer rates offered under GST?
1 Yarn purchase/sale
2 Job workers like dyeing, knitting, streaming processes.
3 cloth purchase/sale
4 contractor for labours
5 Finished goods (ie T shirs, pants, trousers, underwears etc)