GST rate cuts bonanza! What is cheaper and dearer? Check full list of items in 0%, 5%, 18% & 40% slabs
Finance Minister Nirmala Sitharaman on Wednesday announced sweeping Goods and Services Tax (GST) rate cuts effective September 22. The GST revamp brings a majority of items in the 5% and 18% slabs, with several items now facing 0% or nil tax and some added to the 40% ‘sin tax’ slab.With GST cut on a lot of daily use household items, common man and middle class have big reason to cheer. So what has become cheaper after the rate cuts? Which items will face higher tax rates, and will now be dearer? Here’s the full list:
- Common man items such as hair oil, toilet, soap bars, soap bars, shampoos, toothbrushes, toothpaste, bicycles, tableware, kitchenware and other household articles will come under 5% tax bracket
- Zero tax items include ultra high temperature milk, paneer, all the Indian breads
- Reduction of GST to 5% for food items, namkeen, sauces, pasta, instant noodle, chocolates, coffee, preserved meat, corn flakes, butter, ghee,
- Air conditioners, TVs, dish washing machines, small cars, motorcycles equal to or less than 350 CC are now at 18%
Also read | GST reforms: 0% GST on individual health and life insurance; reduced from 18%This story is being updated
