Here’s an overview of the Goods and Services Tax (GST) rates in India, organized by category into a table format:
| Category | GST Rate (%) | Examples |
|---|---|---|
| Exempt (0%) | 0 | Fresh fruits, vegetables, milk, bread, jute, handloom, books, educational services, health services. |
| Lower Rate (5%) | 5 | Coal, packaged food items, footwear under Rs. 500, apparel under Rs. 1000, economy class air tickets. |
| Standard Rate (12%) | 12 | Butter, cheese, frozen meat products, fruit juices, business class air tickets. |
| Standard Rate (18%) | 18 | Hairdryers, telecom services, IT services, restaurant services (without alcohol), personal care items like soap and toothpaste. |
| Higher Rate (28%) | 28 | Paint, cement, pan masala, aerated water, luxury cars, motor vehicles, entertainment like cinema tickets, five-star hotels. |
| Special Rates | ||
| – Gold | 3 | Gold in any form, including jewelry. |
| – Rough Precious & Semi-Precious Stones | 0.25 | Rough diamonds and similar stones. |
- The rates can change based on the decisions made by the GST Council, and there might be additional cess applied on some items within the 28% category, particularly luxury or demerit goods like tobacco products, aerated drinks, and luxury cars.
- The table provides a general overview and is not exhaustive. For specific items, you should refer to the latest GST rate notifications or use the HSN or SAC code for precise tax application.
This summary reflects the GST structure as understood from the available information up to December 2024.
Here are the notable recent changes to GST rates in India as per the latest updates:
- Used Cars: The GST rate on used cars has been increased from 12% to 18%.
- Electric Vehicles (EVs): The GST rate for new electric vehicles remains at 5%, but there was no decision on insurance related to EVs.
- Fortified Rice: The GST on fortified rice has been reduced from 18% to 5%.
- Gene Therapy: Exemption from GST has been granted for gene therapy.
- Penalty Paid to Banks: No GST will be levied on penalties paid to banks.
- IGST on Missile Parts: An exemption from IGST has been approved for missile parts.
- Contribution to Motor Vehicle Accident Fund: GST exemption has been provided on contributions to this fund.
- Agricultural Products: Clarification was provided that there is no GST on pepper and raisins given by agriculturists.
- Aerated Beverages: There’s a plan to increase the GST rate for aerated beverages from 40% (28% GST + 12% cess) to possibly 47%.
- Delivery Charges: There might be a reduction from 18% to 5% on delivery charges, but this could come with restrictions on Input Tax Credit (ITC), affecting e-commerce operations.
These changes reflect adjustments made in the GST council meetings, specifically around the 55th GST Council meeting. Remember, these rates are subject to further modifications based on future council decisions.