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Rate wise classification of goods and services under gst

Mitul Patel (Tax consultants & Audit Assistant ) (35 Points)

07 November 2016

IF ANY PERSON HAS ANY LIST REGARDING RATE WISE LIST OF GOODS AND SERVICES UNDER GST

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3 Replies

Sunil Kumar (Indirect Taxation ) (1246 Points)
Replied 07 November 2016

HI Mitul,

The GST council has not provide any rate list for GST. However the slab rates are finalised and the principle to cover the items under each rate list is also provided. The principle to cover different items under different tax brackets are as under:

Tax Rate	Items
Exempted	Essential commodities
5 percent	Items of mass consumption
12 and 18 percent	Standard rate on most items (The reason to have two standard rates is to maintain the inflation impact)
More than 28 percent	Demerit and Luxury goods