New GST Rates 2022: The new GST rates came into effect from July 18, 2022. The new GST tax structure was approved in the 47th meeting of the GST Council held in Chandigarh last month. Due to this the prices of many food items including paneer, rice, wheat, jaggery, curd and lassi have increased.
These daily household items will be subject to 5 per cent GST from July 18. Dry makhana, puffed rice, muslin flour, labeled meat and fish will also attract 5 per cent GST. All these items were earlier exempted from GST. Apart from this, all types of mangoes including mango pulp will now attract 12 per cent GST. However, loose, unsealed and unlabeled goods are exempted from GST.
GST has also been increased on hotels and banking services. The new GST rates on banking services will be 18 per cent, which includes the charges levied by banks for issuance of cheques. Currently exempt from GST, hotel rooms will also be costlier as hotel rooms are currently subject to 12 per cent GST.
New GST Rates 2022: Which one will cost more?
Food items- Pre-packaged, labeled foods including rice, wheat, flour, paneer, curd, jaggery, lassi, buttermilk, labeled meat (other than frozen) and fish are subject to 5 per cent GST.
All types of mangoes including mango pulp will now attract 12% GST. (Green and fresh mangoes will continue to be exempt from GST)
Tetra pack will attract 18 per cent GST.
Hospital Rooms – Rs. Hospital rooms rented above Rs 5,000 will attract 5% GST.
Maps and Maps – 12% GST is levied on maps including maps and atlases.
Banking Services – A GST of 18 per cent is levied on the charges charged by banks for issuance of cheques.
Diamonds: The GST rate on cut and polished diamonds has been increased from 0.25 per cent to 1.5 per cent.
Leather – The GST rate on finished leather has been increased to 12 percent.
Hotel – 12% GST is levied on hotel rooms up to Rs 1,000 per day.
Printing/Drawing Ink – The rate of GST on printing, drawing ink, writing, pencil sharpener, paper knife, serrated knife, LED lights and marking equipment has been increased from 12 per cent to 18 per cent.
Solar heater- GST on solar water heater has been increased from 5 percent to 12 percent.
Works Contract Services – The GST rate for works contract services like bridges, roads, metro, railways, incineration and treatment projects has been increased from 12 percent to 18 percent.
The rate of GST on milling machinery-mills or grain making machinery has been increased from 5 per cent to 18 per cent.
New GST Rates 2022: Which one is cheaper?
GST rate is not applicable for air transport of passengers from North Eastern states and Bagdogra in economy class.
The rate of GST on the fare of trucks and wagons (including fuel cost) has been reduced from 18 per cent to 12 per cent.
Electric vehicles will attract 5% GST.
GST on goods and passenger transport by ropeway has been reduced from 12 per cent to 5 per cent.
New GST rates for food items
Prices of the following food items will increase from July 18-
Curd, Lassi, Buttermilk -5% GST
Paneer – 5% GST
Rice, Wheat, Rye, Barley, Oats – 5% GST
Wheat and Meslin flour – 5% GST
All types of Jaggery including Sugarcane Jaggery (Jaggery), Palm Jaggery – 5% GST
Ghansari Chini -5% GST
Natural Honey -5% GST
flat rice, sour rice (muri), (sira), fried rice (koi), coated rice
Sugar (Chicken) – 5% GST
Rice Flour -5% GST
Young Water – 12% GST
What is GST?
The Goods and Services Tax is a single, indirect tax levied by the central government. The tax was introduced on July 1, 2017.