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Revised GST Rate List | These Items Get Cheaper | Full List of 27 Goods & 12 Services

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Revised GST Rate List

 Revised GST Rate List

As per discussions held in the 22nd meeting Finance Minister Arun Jaitley has introduced Revised GST Rate List. After the commencement of Revised GST, everybody’s starts talking about new GST rates. For the sake of it we have presented Full List of 27 Goods & 12 Services that gets cheaper. After GST Council's recommendations Prime Minister Narendra Modi said that GST had become "even simpler" after revision.  After the changes in Goods and Service tax 95% of taxpayer is relaxed.

PM Modi has been describing GST as 'Good and Simple Tax'. "GST is in line with our constant endeavour to ensure interests of our citizens are safeguarded & India's economy grows," he added.

As we all know that Gujarat elections are in the way so other parties are making their statements that Prime Minister Narendra Modi has done revision in GST due to vote in elections. But the truth is that changes are made to give relief to small traders. Small traders was not getting the exact meaning of GST so for the sake of them and other troubles that AAM ADMI was facing Revised GST Rate has been done. To get all related details about Items Get Cheaper in Revised GST Rate List follow below structured page that is prepared by the team members of www.privatejobshub.in

Revised GST Rate List

Full List of 27 Goods & 12 Services

Below is the list of items on which GST has been reduced. You can go through the provided table and get all the related information about changes of 27 Goods & 12 Services after revision of GST on 6-10-2017.

S.
No.
Description
Present GST Rate
GST Rate Recommended by the GST Council
1.
Mangoes sliced dried
12%
5%
2.

Khakra and plain chapati / roti
12%
5%
3.
Food preparations put up in unit containers and intended for free distribution to economically weaker sections of the society under a programme dulyapproved by the Central Government or any State Government, subject to specified conditions
18%

5 %


4.
Namkeens other than those put up in unit container and, –
(a) bearing a registered brand name; or
(b) bearing a brand name on which an actionable claim or enforceable right in a court of law is available [other than those where any actionable claim or enforceable right in respect of such brand name has been foregone voluntarily
12%
5%
5.
Imposing GST only on the net quantity of superior kerosene oil [SKO] retained for the manufacture of Linear Alkyl Benzene [LAB]
18%
18%
[Clarification to be issued]
6.
Ayurvedic, Unani, Siddha, Homeopathy medicines, other than those bearing a brand name
12%
5%
7.
Poster Colour
28%
18%
8.
Modelling paste for children amusement
28%
18%
9.
Plastic waste, parings or scrap
18%
5%
10.
Rubber  waste, parings or scrap
18%
5%
11.
Hard Rubber waste or scrap
28%
5%
12.
Paper waste or scrap
12%
5%
13.
Duty credit scrips
5%
Nil
14.
Sewing thread of manmade filaments, whether or not put up for retail sale

18%
12%
15.
All synthetic filament yarn, such as nylon, polyester, acrylic, etc.

18%
12%
16.
All artificial filament yarn, such as viscose rayon, Cuprammonium,
18%
12%
17.
Sewing thread of manmade staple fibres

18%
12%
18.
Yarn of manmade staple fibres
18%
12%
19.
Real Zari
12%
5%
20.
All goods falling under heading 6802 [other than those of marble and granite or those which attract 12% GST]
28%
18%
21.
Cullet or other waste or scrap of Glass

18%
5%
22.
Fittings for loose-leaf binders or files, letter clips, letter corners, paper clips, indexing tags and similar office articles, of base metal; staples in strips (for example, for offices, upholstery, packaging), of base metal

28%
18%
23.
Plain Shaft Bearing 8483
28%
18%
24.
Parts suitable for use solely or principally with fixed Speed Diesel Engines of power not exceeding 15HP

28%
18%
25.
Parts suitable for use solely or principally with power driven pumps primarily designed for handling water, namely, centrifugal pumps (horizontal and vertical), deep tube-well turbine pumps, submersible pumps, axial flow and mixed flow vertical pumps
28%
18%
26.
E-Waste
28%/18%
5%
27.
Biomass briquettes
18%
5%


IGST Exemption Goods

Directors will also get benefits from E wallets that have been introduced in revised GST. May imports were facing problem as their money was being credited as no payments were done. To overcome from this situation e-wallets are now provided.

Description
Present applicable IGST rate
Recommended IGST rate
IGST exemption on imports of rigs imported for oil / gas exploration and production projects under lease, subject to the following conditions that:
(i)       Integrated tax leviable under section 5(1) of the IGST Act, 2017 on supply of service covered by item 1(b) or 5(f) of Schedule II of the Central Goods and Services Tax Act, 2017;
(ii)     The rig is not sold without the prior permission of the Commissioner of Customs of the port of importation;
(iii)   to re-export the goods within 3 months from the expiry of the period for which they were supplied under a transaction covered by item 1(b) or 5(f) of Schedule II of the Central Goods and Services Tax Act, 2017 out of India;
(iv)   to pay on demand an amount equal to the integrated tax payable on the said goods but for the exemption under this notification in the event of violation of any of the above conditions and applicable interest.
5%
Nil
Exemption from IGST on imports of medicines supplied free by international agencies like UNICEF, WHO, Red Cross etc.

12%/5%
Nil
A.    Exemption from IGST on imports of bona fide gifts upto CIF value limit of Rs. 5000 imported through post or air.

28%
Nil

Revised GST Rate List


Go Through theses Links:

Description of Services
GST Rate
Services by way of job work in relation to –

a) Textile yarns (other than man-made fibre/filament) & textile fabrics
b) Cut and polished diamonds; precious and semi-precious stones, or plain and studded jewellery of gold and other precious metals, falling under chapter 71 of HSN
c) Printing of books (including braille books), journals and periodicals
d) Processing of leather
5% with Full ITC
Services by way of right to admission to exhibition of cinematographic films where the consideration for admission is Rs. 100 or less.
18% with Full ITC

GST will be going to proof very simple and easy this time because Finance Minister Arun Jaitley has claim that approx 95% will be happier after this as they almost an all the items they need to pay 0 tax or 5% tax. We should support our PM as he is working for our nation to make India at another level so that future of youth can be bright and secure. So let’s encourage PM Modi.

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