Everyone has a little idea about GST. What most people don’t know is how many slabs in GST. Fret not, in this answer I will share details about the same. The GST council of the country revises the GST rate and GST slabs. Keep reading to know more.
I am sure you must have noticed that GST rates are usually high for luxury supplies, On the other hand, the GST rate is usually low for essential goods.
How many tax slabs in GST?The GST rate for different goods and services has been divided into four slabs. The slabs are 5% GST, 12% GST, 18% GST, & 28% GST.Some of the items like important medicines, COVID related items(relief goods) are placed on an exemption list.
More on how many slab rates in GST.
Exempted GST Rate Slab (No Tax) :
Necessary goods like fresh fruits and vegetables, milk, buttermilk, curd, natural honey, flour, besan, bread, all kinds of salt fall under this category.
5% GST Rate Slab :All sorts of apparel below the price of INR 1000 and footwear below INR 500 fall in this category. Packaged food items, cream, skimmed milk powder, branded paneer, etc also fall in this category
12% GST Rate Slab :
Edibles, non-AC restaurants, business class air tickets, state-run lottery, work contracts, etc are charged with 12% GST.
18% GST Rate Slab
Pasta, biscuits, cornflakes, pastries and cakes, preserved vegetables, jams, soups, ice cream, mayonnaise, electrical transformer, optical fibre, tissues, sanitary napkins, notebooks, etc are a few of the items that fall under this category.
28% GST Rate SlabPan masala, aerated water, personal care items, paint, water heater, dishwasher, weighing machine, washing machine, vacuum cleaner, automobiles, and other luxurious items fall in this category.
To answer how many slabs are in GST. There are 4 different slabs. You can read more about how many slabs in GST on the forum page. Good luck!
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Read more :
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Is GST Applicable On Rental Income From Residential Property?
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Authors Of The Question
How many tax slabs in GST ?
bhawna
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1 Answers
2 Year
2022-03-10T20:14:31+00:00 2022-03-10T20:14:32+00:00Comment
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