Certain goods and services that were earlier subject to both GST and a compensation cess have now been grouped under a single 40% GST slab. This category includes luxury cars, aerated beverages, and select high-end motorcycles, aiming to simplify taxation and enhance transparency by removing the complexity of GST plus cess calculations. The 18% GST rate is now the new standard rate, applying to a wide range of goods and services. This includes many items that were previously taxed at a higher rate, such as mobile phones, air conditioners, refrigerators, televisions, and small cars.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing. The supplier of taxable goods and services should charge and collect GST at the specified GST rate from their buyer or customer.

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This new service aims to boost travel for business, tourism, and family visits between India and the United Kingdom. 0% GST items are nil rated items under GST on which 0% GST rate applies. The GST rate on gold jewellery and gold biscuits or in any semi-manufactured form is 3% (IGST or both CGST and SGST 1.5% each) under HSN Chapter 71. Sugared or sweetened aerated waters; flavoured non-alcoholic drinks; other unspecified non-alcoholic beverages; caffeinated beverages; carbonated fruit drinks and fruit juice beverages.

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India’s GST regime is undergoing a landmark transformation with the 56th GST Council meeting unveiling GST 2.0 – next-generation reforms simplifying tax slabs to 5%, 18%, and 40%. Effective from September 22, 2025, these reforms aim to ease compliance, boost consumption, and fuel economic growth. However, the compensation cess has not been completely abolished. It continues to apply to tobacco and related products as a temporary measure until the government fully repays its financial commitments to compensate states for revenue losses. The revised system still employs mechanisms like TDS under GST and TCS under GST to ensure compliance and streamline tax collection, making the overall tax structure more straightforward and fair.

• For more items, type in the item you wish to know the GST rate of by visiting our HSN code & GST rates finder.
• It continues to apply to tobacco and related products as a temporary measure until the government fully repays its financial commitments to compensate states for revenue losses.
• HSN is a globally accepted system, while SAC is India-specific.
• Building and decorative stones, flagstones, mosaic cubes, colored granules, slates, millstones, grinding stones, and abrasives.

It is also clarified with respect to renting, that ‘premises’ means a place from where hotel accommodation services are being supplied or are to be supplied, with effect from 1st April 2025. Polymers, resins, plastic products, pipes, fittings, sheeting, packaging, kitchenware, and woven/non-woven bags. https://pinup-casinos.co.in/ Goods and materials used in building or infrastructure projects, including those supplied under works contracts.

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Cement and concrete articles (reinforced/unreinforced), asbestos-cement goods, fibre cement, friction materials, mica-based and carbon products. Pig iron, ferro-alloys, direct reduced iron, ingots, semi-finished metal products, metal scrap, granules, and powders. In simple words, every business registered under GST must raise invoices with GST amounts charged on the taxable supply value. These GST amounts are derived by multiplying a tax percentage with taxable supply value.

Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law. Presently, there are types of GST – Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), and Integrated Goods and Services Tax (IGST). While a taxpayer must deposit CGST and SGST for all intrastate transactions, IGST is deposited for imports and interstate transactions. Additionally, silver filigree work, handmade imitation jewellery and natural seed/bead jewellery attract a concessional rate of 3%. The new rates prescribed are 5% GST for a wide array of handicraft items including woodcraft, embroidery, coir, pottery, glassware, bamboo and cane crafts, paintings, sculptures, etc.