What are the GST Tax Rates?
GST has introduced some set of tax rates applicable to all the goods and services @ certain tier rates.
- 0% GST – On about 50% of the consumer products which also includes food grains
- 5% – Mass Consumption items are included in this list which includes goods like mustard oil and spices.
- 12% – On The processed foods and the list also includes products like smartphones.
- 18% – On various products such as soaps, oils, toothpaste, refrigerator, TV etc.
- 28 % – White goods and cars/bikes are included in the list.
- 28% – Many high end items like luxury cars, Pan Masala, tobacco and aerated drinks.