Products list with the decreased rate of Goods & Services Tax

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GST ( Goods and services tax ) is the tax which is being implemented on the goods and products by the Gov. of India. We have 3 different types of tax which was being applied to the various products. All other taxes have been removed and only a single tax is implemented on Goods and products which is known as GST. Finally, GST has been reduced on some of the products. Scrap Filter contains the list of such products on which the rate of GST is decreased by the GOVT. of India. The new GST rates are to be executed from new year i.e 1st Jan 2019. 

Products list with the decreased rate of Goods & Services Tax 1

Goods & Services Tax:-

Goods & Services Tax is the only single tax which is being introduced after removal of all other taxes. GST is of 3 types:- 1. CGST 2. SGST 3. IGST. GST is the only single tax which is applied to various goods and products after the removal of all other taxes such as service tax and many more. GST has four tax slabs in it which covers 1300 goods and 500 services in it. The % rate is 5%, 12%, 18% and 28%. On Dec 22, 2018, the finance minister announced a list of products whose rate of GST is to be reduced.

Products list with the decreased rate of Goods & Services Tax Gst

 

The rate of GST % has been reduced in seven orders.

A. 28% to 18%

B. 28% to 5%  

C. 18% to 12%

D. 18% to 5% 

E. 12% to 5%

F. 12% to Nil

G. 5% to Nil

Products list with the decreased rate of Goods & Services Tax 2

Products list with the decreased rate of Goods & Services Tax 3

List of Products with a decreased rate in GST:

  • Monitor and tv ( up to 32 inches)- New rate of G.S.T. is 18% and the Former rate was 28% which seems to be reduced by 10%.
  • Pully and Transmission shaft (Under HS Code-8483)- New rate of G.S.T. is 18% and the former rate was 28% seems to be decreased by 10%.
  • The retreated pneumatic tyre of rubber- New rate of G.S.T. is 18% and the former rate was 28% seems to be reduced by 10%.
  • Video game console (Under HS Code-9504)- New rate of G.S.T. is 18% and the former rate was 28% seems to be reduced by 10%.
  • Digital Cameras- New rate of G.S.T. is 18% and the former rate was 28% seems to be reduced by 10%.
  • Power bank with lithium-ion batteries- New rate of G.S.T. is 18% and the former rate was 28% seems to be decreased by 10%.
  • Parts and accessories for disabled person- New rate of G.S.T. is 5% and the former rate was 28% seems to be reduced by 23%.
  • Cork roughly squared or debagged- New rate of G.S.T. is 12% and the former rate was 18% seems to be reduced by 6%.
  • Agglomerated cork- New rate of G.S.T. is 12% and the former rate was 18% seems to be reduced by 6%.
  • Articles of natural cock- New rate of G.S.T. is 12% and the former rate was 18% seems to be reduced by 6%.
  • Marble Rubble- New rate of G.S.T. is 5% and the former rate was 18% seems to be reduced by 13%.
  • Fly ash blocks- New rate of G.S.T. is 5% and the former rate was 12% seems to be reduced by 7%.
  • Natural cork- New rate of G.S.T. is 5% and the former rate was 12% seems to be reduced by 7%.
  • Walking stick- New rate of G.S.T. is 5% and the former rate was 12% seems to be reduced by 7%.
  • Music Books- New rate of G.S.T. is 0 % and the former rate was 12% seems to be reduced by 12%.
  • Frozen vegetables- New rate of GST is 0% and the former rate was 5% seems to be reduced by 5%.
  • Cinema tickets (Up to rupees 100)- New rate of G.S.T. is 18% and the Former rate was 28% which seems to be reduced by 10%.
  • Cinema tickets (Above rupees 100)- New rate of G.S.T. is 12% and the former rate was 18% seems to be reduced by 6%.
  • Third Party premium insurance of goods carrying vehicles- New rate of G.S.T. is 12% and the former rate was 18% seems to be reduced by 6%.

 

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