The government has released a list of household items where tax liabilities will be reduced once GST comes into effect, compared with the present combined indirect tax rates. For a majority of supplies of goods, the tax incidence approved by the GST Council is much lower than the present combined indirect tax rates levied by the Centre and States, the finance ministry said in a press release dated June 15. The new indirect tax regime, GST, will subsume many local and central taxes including excise duty, service tax, VAT and octroi. The government is set to roll out GST or goods and services tax from July 1.
Touted as the biggest tax reform since Independence, the GST regime will impact prices of a multitude of goods and services. The GST Council, chaired by Finance Minister Arun Jaitley and comprising of his state counterparts, has already categorized over 1,200 goods and 500 services in tax slabs of zero, 5, 12, 18 and 28 per cent.
Here is a list of supplies where the GST incidence is lower than the present combined indirect tax rates:
Milk powder
Curd, lassi, butter milk put up in unit container
Unbranded natural honey
Ultra high temperature (UHT) milk
Dairy spreads
Cheese
Cashew nut
Raisin
Spices
Tea
Wheat
Rice
Flour
Soyabean oil
Groundnut oil
Palm oil
Sunflower oil
Coconut oil
Mustard Oil
Sunflower oil
Other vegetable edible oils
Sugar
Palmyra jaggery
Sugar confectionery
Pasta, spaghetti, macaroni, noodles
Fruit and vegetable items and other food products
Pickle, Murabba, Chutney
Sweetmeats
Ketchup & Sauces
Mustard Sauce
Toppings, spreads and sauces
Instant Food Mixes
Other pulses bari (mungodi)
Mineral water
Ice and snow
Cement
Coal
Kerosene PDS (Public Distribution System)
LPG domestic
Insulin
Agarbatti
Tooth powder
Hair oil
Toothpaste
Kajal (other than kajal pencil sticks)
Soap
X-ray films for medical use
Diagnostic kits and reagents
Plastic tarpaulin
School bags
Exercise books and note books
Kites
Children's picture, drawing or colouring books
Silk fabrics
Woollen fabrics
Cotton fabrics not containing any other textile material
Other vegetable yarn fabrics
Manmade filament/fibre fabrics
Readymade garments and made up articles of textiles of sale value not exceeding Rs. 1000 per piece
Readymade garments and made up articles of textiles of sale value exceeding Rs. 1000 per piece
Footwear of RSP upto Rs. 500 per pair
Other footwear
Helmet
Headgear and parts thereof
Fly ash bricks and fly ash blocks
Glasses for corrective spectacles and flint buttons
LPG stove
Aluminium foils
Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs
Fixed speed diesel engines of power not exceeding 15HP
Tractor rear tyres and tractor rear tyre tubes
Weighing machinery (other than electric and electronic)
Printers (other than multi-function printers)
Recorder
CCTV
Sewing machine
Staplers
Car for physically handicapped person
Baby carriages
Spectacles lenses
Intraocular lens
Spectacles, corrective
Braille watches
Medical furniture
LED
Kerosene pressure lantern
Bamboo furniture
Sports goods other than articles and equipment for general physical exercise
'Phul jharoo'
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