What shall be the gst rate on sanitary items , sanitary ware and pipe fittings
18 Replies
Sachin Sharma
(14 Points)
Replied 18 May 2017
Different tax rate for products wise max rate is 28 %%
srinivas
(Finance Manager)
(239 Points)
Replied 19 May 2017
Commoditie rates are not finilized. This is final work for GST team.
Sunil Sharma
(29 Points)
Replied 19 May 2017
Finance Minister Arun Jaitley announced that the Goods and Service Tax (GST) Council has decided rates for around 1,150 items out of the total 1,211. The rates for remaining goods will be discussed and finalised on Friday, he said.
Here’s a breakup of the goods falling under the various tax slabs.
43 percent items are under the 18 percent tax rate.
19 percent are under the 28 percent tax rate.
17 percent are under the 12 percent tax rate.
14 percent items fall under the 5 percent tax rate.
7 percent items fall in the exemption list.
Sugar, tea, coffee, sweets and edible oil will fall under the 5 percent tax bracket, said Hasmukh Adhia, financial services secretary, Ministry of Finance. Coal will also be taxed at 5 percent as opposed to the current incidence of around 10 percent.
Goods such as hair oil, toothpaste and soaps will fall in the 18 percent category. All capital goods and industrial intermediates will also fall under the 18 percent bracket. This will help bring down inflation, Jaitley said.
Cereals, milk and jaggery will be exempted from any tax. The rates for gold, beedi, cigarette, agricultural implements, footwear, textiles and biodiesel have not been decided yet, Jaitley said.
The council approved seven rules in today’s meeting in Srinagar. The legal committee is working on the remaining two relating to transition provision and return, Jaitley said.
The council had finalised a four-tier rate structure of 5, 12, 18 and 28 percent, with an additional levy or cess on demerit goods, which will fall under the highest tax slab.
The council on April 7 passed the five GST bills – Central GST, State GST, Integrated GST, Compensation Bill and the Union Territories GST.
The blanket tax system is expected to be rolled out form July 1. However, some company leaders believe that a July implementation seems unrealistic with most of the small and medium businesses still not registered on the GST Network.
1) GST Council has *decided on rates for all 1,211 items except 6 items*. And 81%of the total items to be taxed at below 18% GST rate slabs (As Per Revenue Secretary Hasmukh Adhi Ji Statement)
2) GST council *approved seven rules of GST* and that *remaining two* rules relating to transition and return are being vetted by a legal committee. ( As Per Arun Jaitley Ji Statement)
3) GST Council will tomorrow discuss *rates on services*.
4) *List of exempted items* will also be decided today
https://www.firstpost.com/business/gst-council-srinagar-meet-sugar-tea-coffee-and-edible-oil-in-5-tax-bracket-3455994.H T M L
Here’s a breakup of the goods falling under the various tax slabs.
43 percent items are under the 18 percent tax rate.
19 percent are under the 28 percent tax rate.
17 percent are under the 12 percent tax rate.
14 percent items fall under the 5 percent tax rate.
7 percent items fall in the exemption list.
Sugar, tea, coffee, sweets and edible oil will fall under the 5 percent tax bracket, said Hasmukh Adhia, financial services secretary, Ministry of Finance. Coal will also be taxed at 5 percent as opposed to the current incidence of around 10 percent.
Goods such as hair oil, toothpaste and soaps will fall in the 18 percent category. All capital goods and industrial intermediates will also fall under the 18 percent bracket. This will help bring down inflation, Jaitley said.
Cereals, milk and jaggery will be exempted from any tax. The rates for gold, beedi, cigarette, agricultural implements, footwear, textiles and biodiesel have not been decided yet, Jaitley said.
The council approved seven rules in today’s meeting in Srinagar. The legal committee is working on the remaining two relating to transition provision and return, Jaitley said.
The council had finalised a four-tier rate structure of 5, 12, 18 and 28 percent, with an additional levy or cess on demerit goods, which will fall under the highest tax slab.
The council on April 7 passed the five GST bills – Central GST, State GST, Integrated GST, Compensation Bill and the Union Territories GST.
The blanket tax system is expected to be rolled out form July 1. However, some company leaders believe that a July implementation seems unrealistic with most of the small and medium businesses still not registered on the GST Network.
1) GST Council has *decided on rates for all 1,211 items except 6 items*. And 81%of the total items to be taxed at below 18% GST rate slabs (As Per Revenue Secretary Hasmukh Adhi Ji Statement)
2) GST council *approved seven rules of GST* and that *remaining two* rules relating to transition and return are being vetted by a legal committee. ( As Per Arun Jaitley Ji Statement)
3) GST Council will tomorrow discuss *rates on services*.
4) *List of exempted items* will also be decided today
https://www.firstpost.com/business/gst-council-srinagar-meet-sugar-tea-coffee-and-edible-oil-in-5-tax-bracket-3455994.H T M L
Raj kumar
(Manager Accounts Finance & Taxation)
(4 Points)
Replied 19 May 2017
what will be the rate for leather item in retail industry like footwear, handbags, belt, wallets etc.. please guide..
Murugesan
(MANAGER ACCOUNTS)
(22 Points)
Replied 20 May 2017
Imported Feed supplement products GST rate?
S JEEVARETHINAM
(Sr Manager Finance and Taxation)
(137 Points)
Replied 22 May 2017
Please refer CBEC (https://www.cbec.gov.in/) released GST Rate schedule chapter 69 - Sanitary were comes under Ceramic Products. You can refer item wise rate and its classification.
Please refer this Official webiste alone for A-Z of GST........
Vinod Malhotra
(Accounts)
(39 Points)
Replied 04 June 2017
June 3, 2017
The Goods and Services Tax council met on Friday for its 15th meeting in New Delhi.
The agenda for the 15th meeting of the GST Council was to clear two important rules related to transition provisions and returns to be filed under the new indirect tax regime.
The council had to also fix rates for commodities like biscuits, cigarettes, beedis, agricultural equipment, precious metals and textiles. The rate on lottery tickets was also taken up for consideration.
Key takeaways from today’s meeting are:
1. GST Rules cleared including transition and return filing.
2. GST Council will set up committee to look into complaints regarding anti-profiteering clause.
Clearlify some GST Rates today in GST Council meeting.
1. Solar Panels – 5%
2. Packaged Food Items – 5%
3. Bidi – 28% (no cess)
4. Tendu Leaves – 18%
5. Gold, Silver and Processed Diamonds – 3%
6. Jute – 0%
7. Footwear below INR 500 – 5% and footwear above INR 500 – 18%
9. Readymade garments – 12 %, with apparel costing below Rs 1,000 – 5%
10. Biscuits – 18%
11. Rough Diamonds – 0.25%
Next meeting of GST Council is scheduled to take place on June 11 for discussion on GST rates and rules.
The Goods and Services Tax council met on Friday for its 15th meeting in New Delhi.
The agenda for the 15th meeting of the GST Council was to clear two important rules related to transition provisions and returns to be filed under the new indirect tax regime.
The council had to also fix rates for commodities like biscuits, cigarettes, beedis, agricultural equipment, precious metals and textiles. The rate on lottery tickets was also taken up for consideration.
Key takeaways from today’s meeting are:
1. GST Rules cleared including transition and return filing.
2. GST Council will set up committee to look into complaints regarding anti-profiteering clause.
Clearlify some GST Rates today in GST Council meeting.
1. Solar Panels – 5%
2. Packaged Food Items – 5%
3. Bidi – 28% (no cess)
4. Tendu Leaves – 18%
5. Gold, Silver and Processed Diamonds – 3%
6. Jute – 0%
7. Footwear below INR 500 – 5% and footwear above INR 500 – 18%
9. Readymade garments – 12 %, with apparel costing below Rs 1,000 – 5%
10. Biscuits – 18%
11. Rough Diamonds – 0.25%
Next meeting of GST Council is scheduled to take place on June 11 for discussion on GST rates and rules.
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