GST: Rates of gold,textiles etc finalised by Gst Council

The Gst council, in their meeting held on 03rd June 2017, decided rates of commodities like gold, textiles, footwear, branded packaged food products etc. The rates decided in the meeting are as follows:

1. Packaged food items sold under registered trademarks will be taxed at 5 per cent.

2. Footwear below Rs 500 to be taxed at 5 per cent, over Rs 500 at 18 per cent.

3. Zero tax for Silk, jute

4. Apparel below Rs 1,000 to be taxed at 5 per cent, over Rs 1,000 to be taxed at 12 per cent

5. Gold to be taxed at 3 per cent and biscuits at 18 per cent. Rough diamond will be taxed at 0.25%. 

6. Cotton and natural fiber will be taxed at 5 per cent and man-made at 18 per cent.

7. Solar panels will be taxed at 5 per cent under GST.

8. Bidis will be taxed at 28 per cent under GST and will not attract any cess, Tendu leaves at 18 per cent.

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