There is a huge difference between earlier and now in GST rates. we compare GST rates with Vat but it is meaningless.
Goods and service tax is consisting of 17 types of taxes and Vat is only one part of the same. I am not getting the Point why people are comparing the GST rates with the Vat and CST rates.
This is true that there will be an impact of Goods and service tax on Product and Services. Few of them will be costlier and other will be cheaper. Whenever such revolution will take place there will always be advantages and disadvantages of GST.
This revised GST rate is very beneficial for everyone. The discussion on the revised GST is very fruitful.
Let see the changes on it with a comparison between earlier and revised GST.
GST rates on cashew nut earlier it was 12% but now it is only 5%.
GST rates on the preparation of vegetables, fruits, nuts or other parts of plants including murabba, chutney, pickle, jam, jelly etc earlier it was 18% to 12% but now it is only 12%.
Tax rate of GST on Ketchup & Sauces, salad dressings, mustard, mayonnaise earlier it was 18% but now it is 12%.
Bari made of pulses earlier it was 18% but now it is 12%.
Tax Charges after GST on ice and snow change from 12% to 5%,
curry paste, mayonnaise, and salad dressings Tax rate changes from 28% to 18%.
All Types of Salt becomes 0% and earlier it was 5%. This is Important decision in goods and service Tax.
GST on Biogas earlier was 12% and now it is only 5%.
Exercise books and notebooks change from 18% to 12% . These are majorly used by students and offices.
GST on children’s pictures, drawing or colouring books becomes NIL and earlier it was 12%.
GST on human dressed, thinned, bleached, hair or other work earlier it was 28% but now it is NIL means 0%.
Glasses, which uses for spectacles and flint buttons changes from 18% to 12%. Now Specs will be Cheaper.
Important for You
GST on semi-precious and rough stones changes from 3% to 2.5%.
GST on Aluminum foil earlier it was 28% but now it is 18%.
Air based Atta chakki or pawan chakki earlier it was 28% but now in revised GST, it is only 5%.
GST on Fixed speed diesel engines changes from 28% to 12%.
Rear tractor tires, tubes, wheel rim, and weighing machine changes from 28% to 18%.
Tax on printers other than multifunction printers GST becomes 18% to 28%.
GST on Ball bearing, parts & related accessories earlier it was 28% but now it is 18%.
GST on Transformers, industrial electronics, and static convertor’s (UPS) changes from 28% to 18%.
Recorder, CCTV, set top box for TV, computer monitor (less than17 inches), winding wires. Tax Rate was 28% now change to 18% in GST India.
GST on Walkie-talkie used by defense, police, and paramilitary forces etc. earlier it was 28% but now 12%.
Baby Carriage tax rate on GST becomes 18% from 28%.
Electrical filaments or discharge lamps earlier was 28% but now it becomes 18%.
GST on Optical Fiber, spectacles, corrective, changes 28% to 12%.
And in all other things also GST declining from earlier GST’s.
As we, all know goods & services tax (GST) is the main thing that influences businesses, small or large.