The GST rates across 1211 goods (across 98 categories) were first announced by the GST council on 18th May 2017 and on 19th May 2017 the council reconvened to announce rates across 36 categories of Services. On 3rd June 2017, the council reconvened to announce rates for the remaining goods such as Textiles, Biscuits, Gems and Jewelry, Footwear, Agri machinery, Silk and Jute etc and on 11th June 2017 in the 16th GST council meet tax levels of 66 items were reduced.
The 5 tax slabs recommended by GST council are: 0% (Tax exempt), 5%, 12%, 18% and 28%. Currently, more than 81% of goods and services are taxed at 18% or lesser, while only 19% of the items attract 28% taxes.
As per the 22nd Council meeting of GST panel on 6th October, 2017, various recommendations were put up to reduce tax slabs on 26 Goods and Services. Here are the reduced GST slab rates on various items –
|Goods/Service||Present GST Rate||Recommended GST Rate|
|Duty Credit Scrips||5%||NIL|
|Khakra & Plain Chapati/Roti||12%||5%|
|Ayurvedic, Unani, Siddha & Homeopathy medicines (Unbranded)||12%||5%|
|Paper waste or scrap||12%||5%|
|All stones except Marble & Granite||28%||18%|
|Plain Shaft Bearings 8483||28%||18%|
|Diesel Engine Parts||28%||18%|
|Parts of power driven pumps||28%||18%|
|Fittings for loose-leaf binders/files, letter clips, letter corners, paper clips, indexing tags and similar office artiles||28%||18%|
|Hard Rubber Waste||28%||5%|
|Food preparations put up in unit containers||18%||5%|
|Cullet or other waste scrap of Glass||18%||5%|
|Sewing Thread (Manmade Filament)||18%||12%|
|Artificial filament yarn||18%||12%|
|Sewing Thread (Manmade Filament of Staple Fibres)||18%||12%|
|Yarn of manmade staple fibres||18%||12%|
|All synthetic filament yarn||18%||12%|
Shown below are the GST rate slabs for all the Goods and services previously proposed by the GST council.