1. Deemed Credit in Transitional Provision-
Goods in bracket of 5% and 12% - Deemed Credit Kept at 40%
Goods in bracket of 18% and above- Deemed Credit kept at 60%
2. GST Rate Announced Today-
Gold- New Slab rate of 3% Introduced
Biscuits- 18%
Readymade Garments above 1000- 12%
Textile- Yarn and Cotton Fabric- 5%
(Natural Yarn @ 5% Manufactured Yarn @18%)
Footwear Upto 500- 5%
Footwear above 500- 18%
Packaged Food Sold under register trademark- 5%
Agri Machinery- 5% to 12% depending on category.
Apparel Below 1000- 5%
Rough Daimond- .25%
Jute- 0%
Biddi- 28% without Cess
Next GST Council Meeting on 11JUN2017 to discuss unfinished Matters
Goods in bracket of 5% and 12% - Deemed Credit Kept at 40%
Goods in bracket of 18% and above- Deemed Credit kept at 60%
2. GST Rate Announced Today-
Gold- New Slab rate of 3% Introduced
Biscuits- 18%
Readymade Garments above 1000- 12%
Textile- Yarn and Cotton Fabric- 5%
(Natural Yarn @ 5% Manufactured Yarn @18%)
Footwear Upto 500- 5%
Footwear above 500- 18%
Packaged Food Sold under register trademark- 5%
Agri Machinery- 5% to 12% depending on category.
Apparel Below 1000- 5%
Rough Daimond- .25%
Jute- 0%
Biddi- 28% without Cess
Next GST Council Meeting on 11JUN2017 to discuss unfinished Matters