GST Tax Rates: Gainers & Losers!

Fri May 19 2017 19:46:36 GMT+0530 (IST)

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 & Losers…

Gainers:

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.

Losers:

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.