GST (Goods and Services Tax) has implemented in India with effect from 1st of June 2017, replacing the sales tax imposed by states with different tax rates on each states. Now all over India there is a unique tax rate system. And the rate of tax for different type of products and services are as given below.
GST Tax Rates For Different Products and Services
Goods with 5% Tax rate on GST
Goods with 18% Tax rate on GST
Goods with 28% Tax rate on GST
Goods with 0% Tax on GST - Tax Free Goods
Services with 5% Tax on GST
Services with 12% Tax on GST
Services with 18% Tax on GST
These are the latest GST rates in India as of June 2017
GST council has made the much-awaited announcements around tax rates on various categories of goods on day one of a two-day meeting of the said council at Srinagar. There has been a hype around these rates for a while and now these rates are finally in the public domain.
Small insight about daily products
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In India, the Goods and Services Tax (GST) is a comprehensive indirect tax that is levied on the supply of goods and services. GST is levied at different rates depending on the nature of the goods or services being supplied.
As of 2021, the GST rates in India are as follows: