Outcome of Today's GST Council Meeting at Srinagar- 

1) GST Council has decided on rates for all 1,211 items except 6 items. And 81%of the total items to be taxed at below 18% GST rate slabs (As per Revenue Secretary Hasmukh Adhi Ji Statement)

2) GST council approved seven rules of GST and that remaining two rules relating to transition and return are being vetted by a legal committee. (As per Arun Jaitley Ji Statement)

3) GST Council will tomorrow discuss rates on services.

4) List of exempted items will also be decided tomorrow.

 

S.

No.

Chapter

Nil

5%

12%

18%

28%

1.

1

(Live animals)

All goods other than live horses[0101 Liveasses,mulesandhinnies0102 Live bovine animals0103 Live swine 0104 Live sheep and goats 0105 Live poultry, that is to say, fowls of the species Gallus domestic us, ducks, geese, turkeys and guinea fowls. 0106 Other live animal such as Mammals, Birds, Insects]

-

Live horses[01012100,

010129]

-

-

2.

2. (Meat and edible meat of fal)

 

All goods other than in frozen state and put up in unit containers. [0201 Meat      of bovine animals, fresh and chilled.

0203 Meat of swine, fresh or chilled.

0204 Meat of sheep or goats, fresh or chilled.

0205 Meat of horses, asses, mules or hinnies, fresh or chilled.

0206    Edible offal   of bovine animals, swine, sheep, goats, horses, asses, mules or hinnies, fresh or chilled.

0207 Meat and edible of fal, of the poultry of heading

0105,     fresh     or chilled.

0208 Other meat and edible meat of fal, fresh or chilled.

0209 Pig fat, free of lean meat, and poultry fat, not rendered or other wise extracted, fresh, chilled.

-

 

1. All goods in frozen state and put up in unit containers[0202,0203,0204,0205,0206,0207, 0208, 0209]

2. Pig fat, free of lean meat ,and poultry fat, not rendered or other wise extracted, salted, in brine, dried or smoked put up in unit containers[0209]

3. Meat and edible meat of fal, salted, in brine, dried or smoked; edible flour sand meals of meat or meat of fal put up in unit containers [0210]

- -

 

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    I hope by reading this article you got enlighten on ,GST Rates of all items and goods in India as on May 2017further to mention before taken any financial decision based on this content it is prefered to take an expert opinion as matter can be subjective.