The Introduction of Indian GST Rates, Let’s Explore Below!

Ever Since Goods and Service Tax or GST was announced, there has been a huge conjecture about the GST rates group. GST council decides the rate slabs and has been periodically revising the GST list for each tax slab rates. It’s clear that the Indian government’s intentions are to have a lower tax rate for goods and services which are important needs and higher Indian GST Rates that are considered as luxury goods.

Goods and Services Tax is a consumption tax charged in India on several kinds of products and services. In the process of production, it is charged at each and every step. But this tax is compensated to all the parties in the chain of production rather than the last buyer. It is divided into 7 tax rate slabs for the collection of tax. All the tax rate slabs have given below in the GST Rates India List:-

Indian GST Rates on Products:

Products

GST Rates

Farm produced items like milk, fruits, cereals, food grains, rice, wheat & jaggery

NIL

Common use food items like tea, spices, sugar, coffee, mustard oils, vegetable

NIL

Diamonds and precious stones

0.25%

Gold and silver

3%

Fertilizers and biogas

5%

Railway freight

5%

Footwear up to Rs. 500

5%

Processed foods

12%

Mobile Phones

12%

Readymade garments

12%

Manmade fibre and yarn

18%

Buses which run on biofuels

18%

AC, refrigerator, TV, microwave, soft drinks, beverages

18%

Small cars- petrol driven

28%+1% cess

Cigarettes

28%+ 5%cess

Private jets, heavy bikes, luxury yachts

31%

GST Rates India on Services:

Services

GST Rate

Seasonal passes, metro tickets, and sleeper

NIL

Outsourcing in industries like textiles, gems, and jewelry

5%

Railways

5%

Hotels with tariff Rs. 1000 to 2,500

12%

Airlines (business class)

12%

Hotels with tariff above 7,500

18%

Movie tickets below Rs. 100

18%

Movie tickets above Rs. 100

28%

5-star hotels

28%

State authorized lotteries

28%

Now let’s explore the Use of GST Calculator in India

GST Calculator has completely made Goods and services tax calculation simple for businesses. It gives instant and accurate results hence saving a huge amount of time. All you need to do is, only enter the entire amount of a service or product and goods and services tax in the required fields. After that, click on the “Calculate” button and you’ll get the actual price of service/item.

To collect the accurate list of GST Rates India, you can consult with us as we provide import export data services worldwide since 2009. Apart from this, if you want to find SAC Code and GST Rate of any products, kindly go through with SAC Code in GST.