Bhubaneswar, May 19: The Goods and Service tax is said to be one of the biggest tax reforms since India attained independence. Now, this tax reform is all ready to generate impact on the prices of every good and service. The list of goods and services and the taxes that will come under the GST regime are as follows:
GOODS
Exempted- Milk, eggs, salt, fresh vegetables, fruits, contraceptives, organic manure, earthen pots, coconut, prasad supplied by religious places like Temples, Mosques, Churches, Gurudwaras and Dargahs, jaggery, bindi, vermilion, glass bangles, handlooms, hearing aids, handmade musical instruments.
5% Slab- Coffee (not instant), tea, groundnut, cane sugar, beet sugar, bio gas plant, wind mills, kerosene lantern, coal, hand pumps.
12% Slab- Live animals, fruit juices, meat, butter, cheese, mobile phones, fountain pen ink, tooth powder, incense sticks, feeding bottles, braille paper, children’s colouring books, umbrellas, pencil sharpeners, tractors, bicycles, contact lenses, spectacle lenses, utensils, sports goods, fishing rods, combs, pencils, hand paintings.
18% Slab- Helmets, LPG stoves, nuclear reactors, clocks, military weapons, electronic toys, plastic buttons, condensed milk.
28% Slab- Aerated drinks, perfumes, after-shave lotions, deodorants, clothing of fur skin, razor blades, cars, revolvers, pistols.
SERVICES
Exempted- Healthcare, education, metro train, local train, religious travel, Haj.
5% Slab- Transport services, Restaurants with turnover of Rs 50 lakh or below, cab aggregators (Ola and Uber), Economy class air travel.
12% Slab- Non-AC restaurant, hotels with tariff of Rs 1,000-2,500, Business class air travel.
18% Slab- AC restaurants with liquor licence, Telecom, financial services.
28% Slab- 5-star hotels, race club, betting, cinema halls.
