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GST Tax Rates: Gainers & Losers!

By:  Tupaki Desk   |   19 May 2017 2:16 PM GMT
GST Tax Rates: Gainers & Losers!
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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.