July 11, 2017 9:15 AM
Corporate content from Ind piçk exim
Laws & Regulations

Items of common use to attract lower GST

Tax incidence under GST is lower than pre-GST incidence of indirect taxes

 

Wheat

wheat is taxed at 0% under GST and was taxed at 2.5% under pre-GST

Rice

Rice is to be taxed at 0% under GST and was taxed at 2.75% under pre-GST

Unbranded flour

It is to be taxed at  0% under GST and was taxed at 3.5% under pre-GST

Curd, Butter milk

The above two items are to be taxed at 0% under GST and was previously taxed at 4%

Unbranded Natural Honey

Natural honey is to be taxed at 0% under GST and was taxed at 6% under pre-GST

Ultra High Temperature Milk

UHT Milk is to be taxed at 5% under GST and was previously taxed at 6%

Tea (other than unprocessed green leaves of tea)

Tea is currently taxed at 5% under GST, previously taxed at 6% under pre-GST

Milk Powder

It is to be taxed at 5% under GST and was taxed at 6% under pre-GST

Spices

Spices are taxed at 5% under GST and was taxed at 6% under pre-GST

Vegetable Edible Oils

Under GST it is taxed at 5% and under pre-GST it was taxed at 6%

GST : Still lot of traders are confused on GST, as the government is taking serious steps to create knowlege among people about GST. In India more than half of small traders haven't acknowledged computers as their means of business they still have the practice of book records it could make GST troublesome for such traders. GST follows the mark of digital India and as such everthing is made digitally.

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