GST which is dubbed as One Nation-One Tax regime is likely to be implemented from July 1st, 2017. The Council chaired by Union Finance Minister Arun Jaitley fixed GST Tax Rates. Let's have a look at Gainers & Losersâ€¦
Milk, Vegetables, Fruits, Food Grains & Cereals have been exempted from GST Tax. Whereas, Tea, Coffee, Sugar and Edible Oil will be levied 5% Tax.
Solar Panels and Wind Turbines will be levied 5 percent tax.
Tax on coal and metal reduced to 5 percent.
Soaps, Hair Oil and Toothpaste will attract 18 percent tax.
Addition 5 percent tax will be levied on Cigarettes which already falls in 28 percent tax slab.
ACs, Refrigerators and Washing Machines will be in high-tax category.