Find Out The Revised GST Rates For The
Year 2022
GST
means Goods and Service Tax. It is a multi-stage taxation system that applies to
the sale of goods and services. GST aims to remove the cascading effect of
other forms of indirect taxes. It is applicable throughout India. The GST
implementation is headed by the GST council of India. They are the decision
making authority for its implementation and changes in the tax rates from time
to time.
In
India, the GST rates have been divided into four different groups for various
goods and services. The different slabs for GST rate are 5%, 12%, 18% and 28%.
A change in GST has a direct impact on various industries and consumers. In
this article, we list down the latest changes in the GST slab rates on various
goods and services made by the GST council.
GST Rates 2022
|
Products
|
Taxation
rates
|
|
·
Milk
·
Egg
·
Curd
·
Lassi
·
Unpacked foodgrains and paneer
|
0%
|
|
·
Sugar
·
Package Paneer
·
Coffee Beans
·
Domestic LPG
·
Skimmed Milk
·
Cashew Nuts
|
5%
|
|
·
Butter
·
Ghee
·
Processed Food
·
Almonds
·
Mobile
|
12%
|
|
·
Hair Oil
·
Capital Goods
·
Toothpaste
·
Pasta
·
Computers
|
18%
|
|
·
Small cars
·
Consumer Durables (AC & Fridge)
·
Luxury and Sin Items
|
28%
|
The above mentioned are some of the products on
which GST rates have been revised for the year 2022. The GST rate revision is
an ongoing process. The GST council based on the suggestions and
recommendations received makes changes to the applicable GST rates. The whole
purpose of GST is to simplify the indirect taxation system of India.