The slabs of GST are already known to everyone, which are pegged at 5%, 12%, 18% and 28%. As per latest news from the GST council, the tax structure under GST for common use goods is described below by loanbaba:
|Products||Tea, coffee, edible oil, spices, sugar, coal, Indian sweets (mithai/ mishti) life saving drugs||Processed food, computers||Soaps, toothpaste, hair oil (FMCG) Industrial intermediaries and capital goods||Consumer durables like TV, refrigerators, AC Small cars (+1 and +3% cess) Luxury items like luxury cars (BMW, Porsche) Sin items like cigarettes, high end motorbikes (+15% cess)|
A few other items have also been announced by the Council at the time of announcement of GST rate list 2017, in addition to above mentioned structure. These items are discussed below along with the applicable rates:
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