GST Tax Rate: What are Rate of Taxes under GST?
- Blog|GST & Customs|
- < 1 minute
- By Taxmann
- Last Updated on 7 June, 2021
In India, there is a wide socio-economic gap and it would not be feasible to levy the same rate of tax for necessary items like milk and luxury items like BMW Cars. Therefore, it was critical to set different rates for different classes of items.
There are four slabs fixed for GST Rates – 5%, 12%, 18% and 28%.
Items exempted under GST:
Milk, eggs, curd, buttermilk, Fresh vegetables and fruits, Un-branded wheat and rice, un-branded flour, Puja Items
Items under 5%
Frozen Vegetables and Fruits, branded wheat and rice, branded flour, hand-made safety matches, cotton, cotton fabrics, Footwear below Rs.500
Items under 12%
Butter, Cheese, Dry fruits, mobile phones, ayurvedic products
Items under 18%
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