GST rates of most items finalised, foodgrain to get cheape
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The Goods and Services Tax (GST) council on Thursday finalised tax rates for 1,211 items. The apex decision making body for the new tax has kept a majority of the items under the 18% slab. Prices of m...
ost items of mass consumption are likely to fall significantly due to lower tax burden under GST.
Foodgrains, including cereals and jaggery, have been exempted from GST, while sugar, tea, coffee and edible oil have been placed in the 5 per cent tax slab. Items of daily need such as toothpaste, soap and hair oil will be taxed at 18 per cent under GST, against 28 per cent at present.
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