GST

GST rates are lower than pre-GST tax on most items of mass consumption

GST rates are lower than pre-GST tax on most items of mass consumption 

Press Information Bureau
Government of India
Ministry of Finance

18-July-2017

GST rates so notified are lower than the pre-GST tax incidence on most of the items of mass consumption such as cereals, pulses, milk, tea, vegetable edible oils, sugar, toothpaste, hair oil, soap, footwear, Childrens’ picture, drawing or colouring books, etc. 

The GST rates on supply of goods and services have been notified based on the recommendations of the GST Council. The GST rates on goods and services have been fixed taking into consideration, inter alia, the total indirect tax incidence in pre-GST regime, including cascading of taxes. The GST rates so notified are lower than the pre-GST tax incidence on most of the items of mass consumption such as cereals, pulses, milk, tea, vegetable edible oils, sugar, toothpaste, hair oil, soap, footwear, Childrens’ picture, drawing or colouring books, etc.
 
Further, any supplier in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both, whose aggregate turnover in a financial year does not exceed Rs.20 lakh [Rs.10 lakh in the case of special category States] is not liable to be registered under the Central Goods and Services Tax Act, 2017. Also, an eligible registered person in the State or Union territory, other than special category States [except Uttarakhand], whose aggregate turnover in the preceding financial year did not exceed Rs.75 lakh [Rs.50 lakh in the case of special category States other than Uttarakhand], can avail of the Composition Scheme under GST.
 
This was stated by Shri Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Rajya Sabha today.
 
*****
 
DSM/SBS/KA
Share
Leave a Comment

Recent Posts

  • SEBI

Modified Norms for Nomination in Demat Accounts and Mutual Fund Folio

Modified Norms for Nomination in Demat Accounts and Mutual Fund Folio SEBI has modified Norms on Nomination to be implemented…

1 day ago
  • Companies Act

CSR implementation through zero coupon zero principal instruments

Corporate Social Responsibility implementation through zero coupon zero principal instruments Ministry of Corporate Affairs (MCA) has authorised Corporate Social Responsibility…

1 day ago
  • bar-council

Bar Council of India notifies the directions for the election disputes in 2026 State Bar Council election

Bar Council of India notifies the directions for the election disputes in 2026 State Bar Council election Pursuant to the…

2 days ago
  • Empanelment

IOB Concurrent Audit Empanelment for the Financial Year 2026-27 Last Date: 10.06.2026

Indian Overseas Bank Concurrent Audit Empanelment for the financial year 2026-27 (from 01.07.2026 to 30.06.2027)   Indian Overseas Bank has…

3 days ago
  • bankruptcy

Once CoC decides to reject Resolution Plan and liquidate CD for SRA’s default, no interference can be made

Once Committee of Creditors in its commercial wisdom, decides to reject the Resolution Plan and liquidate the Corporate Debtor on…

3 days ago
  • bankruptcy

Applicability of moratorium under IBC on proceedings u/s 138 of NI Act

Supreme Court refers the question of applicability of moratorium under IBC on proceedings u/s 138 of the NI Act to…

3 days ago