CLARIFICATION REGARDING GST RATES & CLASSIFICATION OF GOODS

The GST Council has clarified the rates and classification of goods in India.

The GST rates for goods are divided into five categories: 0%, 5%, 12%, 18%, and 28%.

Goods such as fresh meat, fish, and vegetables are exempt from GST.

Goods such as sugar, tea, and coffee are taxed at 5%.

Goods such as soap, toothpaste, and hair oil are taxed at 18%.

Goods such as luxury cars, tobacco products, and aerated drinks are taxed at 28%.

It is important for businesses to correctly classify their goods to ensure they are paying the correct GST rate.