What is GST?

GST is known as the Goods and Services Tax. It is an indirect tax that has replaced many indirect taxes such as excise duty, VAT, services tax, etc. 

What are the final GST rate slabs?

GST has been structured in a way that essential services are placed in the lower tax brackets, while luxury has been placed in the higher tax bracket. Let’s dive in

Exempted GST Rate Slab 

7% of goods and services fall under this category. These goods are part of the day to day consumption and are valued at less than INR 1000

5% GST Rate Slab

14% of goods and services fall under this category. Includes apparel below INR 1000 and footwear below INR 500, packaged food items, medicines, food items, etc

12% GST Rate Slab

17% of goods and services fall under this category. Edible Items, Ayurvedic medicines, cell phones, apparel above INR 1000, Non AC restaurants, etc

18% GST Rate Slab

43% of goods and services fall under this category. Pasta, Biscuits, AC Restaurants, Liquor, IT Services, Cameras, etc

28% GST Rate Slab

19% of goods and services fall under this category. 5 Star hotel stays Movie tickets, High-end television, motorcycles, personal care items etc.

Categories: GST

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