GST rates decided on 1,211 items: Milk and cereals exempt, foodgrains to be cheaper

The Goods and Services Tax (GST) Council on Thursday decided the tax rates for 1,211 items with a majority of items being kept at 18%, though the rates on gold and beedi remained undecided.

"There is no increase in taxes of the items considered today. In fact, for many of them, taxes have come down," finance minister Arun Jaitley told the media after the first day of the GST Council meet.

The minister said out of 1,211 items, GST rates on all barring six have been decided.

Principal item for discussion tomorrow will be the various category of services: FM Arun Jaitley

Revenue Secretary Hasmukh Adhia



said an overwhelming 81% of items will attract tax of 18% or below. Only 19% of items will be taxed at the highest rate of 28%, he said.

The GST Council, Jaitley said, will discuss on Friday the rates on services and may meet one more time if tax rates for all items are not decided by then.

Here's a list of items so far:

Milk will be exempted from GST

Cereals will be exempt from tax as opposed to current 5% rate

Foodgrains to be cheaper

Hair oil, soap, toothpaste to attract 18% GST

Rate on coal fixed at 5% as against the current 11.69%

Sugar, tea, coffee, edible oil to attract 5% tax