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GST Impact on Important Commodities  

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Joined:5 months  ago
Posts: 50
May 24, 2017 7:32 am  

 GST Impact on Important Commodities

Goods and Services (GST) Tax will bring benefits to the consumers due to reduced tax rates

on various commodities such as packaged cement, medicaments, smart phones, and medical devices etc.

Commodities

Taxes Payable as of now (Central Excise Duty + VAT)

Aggregate Taxes

The proposed GST rate

Cement

12.5% + Rs.125 PMT and

standard 14.5% VAT.

More than 31%.

 

28%

Medicaments, including Ayurvedic, UnaIn',

Siddha, Homeopathic or Bio-chemic systems

6% central excise duty and

5% VAT

More than 13%.

 

 

            12%

Smart phones

1% excise duty + 1% NCCD. (Weighted average VAT rate 12%)

 More than 13.5

12%

Medical devices including surgical instruments

6% central excise duty and 5% VAT

 More than 13%.

12%

Puja samagri including havan samagri

 

 

Nil

 

 

 

Edited: 5 months  ago

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