Goods and Service Tax, as the name indicates, is an indirect tax applied to both goods and services, at a uniform rate. The GST tax system has primarily been implemented with the objective to eliminate numerous indirect taxes such as Service Tax, CST and VAT amongst others, as well as to treat both, goods and services at par.

The implementation of GST has been somewhat tricky, with as many as 36 GST Council Meetings, since the introduction of this unified tax system on July 1^st, 2017 in India.

In the recently held 36th GST council meeting, a GST rate cut on electric vehicles, and related services was announced. This is in line with the government’s efforts to promote the purchase of electrical and hybrid vehicles, as a means to tackle the increasing problem of pollution. The new change has been put into effect since August 1^st, 2019.

The following is the updated itemised list of GST rates.

In the 34^th GST Council Meeting held on 19^th March 2019, the rates for affordable and non-affordable under-construction housing were slashed. These reduced rates, will however only be applicable in case where the builder or developer DOES NOT avail any input tax credit.

The following is the updated list of GST Rates 2019 with respect to the same.

In the 33^rd GST Council Meeting held on 24^th February 2019, the basic exemption limit for good suppliers was increased to Rs. 20 Lakh from Rs. 40 Lakh. The same remains unchanged for suppliers of services.

Yet another highlight of this meeting was the new composition scheme of a fixed GST rate at 6% for service providers with a turnover of over 50 Lakh per annum in the preceding financial year.

The large majority of changes in the GST rates were brought about after the 31^st GST Council Meeting held on 22^nd December 2018.

The following is the updated list of GST rates with respect to the same.

Yet another major change in the GST Rates 2019 was a result of the 28^th GST Council Meeting held on 21^st July 2018.

The following is the updated list of GST rates on goods with respect to the same.   

Here is the updated GST rates list on goods with respect to the 31^st GST Council Meeting.

In the previously held GST Council Meetings, rates for other goods and services were fixed, and are as follows- 

The prevalent GST Rates for everyday goods are as follows:

 The prevalent GST Rates for everyday services are as follows:

This updated list of GST rates on various goods and services will certainly serve as a handy guide for tax purposes and other day-to-day calculations.

Also Read: What is the Impact of GST on a Personal Loan?