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GST Rates 2023: Check Goods and Service Tax Rates, Slab & Revision!

In this article, we have listed the changes in Goods & Services Rates approved during the 48th GST council meeting on December 17, 2022.

Shruti Kandwal
GST rates are the percentage rates of tax imposed under the CGST, SGST, and IGST Acts on the sale of goods and services.
GST rates are the percentage rates of tax imposed under the CGST, SGST, and IGST Acts on the sale of goods and services.

Knowing the GST rates list is important for every Indian consumer and company. When the GST Council changes the GST rates, it affects the relevant industry, trade associations, and end customers, which has an effect on the economy. The upshot of this transformation is that everyone tends to review their position.

In this article, learn about all the latest updates on GST rates in India 2023.

Meaning of GST Rates

GST rates are the percentage rates of tax imposed under the CGST, SGST, and IGST Acts on the sale of goods and services. A company that has registered with the GST must send out invoices that include the GST charges made on the value of the supply.

For intra-state transactions, the GST rates for CGST and SGST are roughly the same. While the IGST's GST rate is higher.

GST Rates in India 2023

The final week of December 2022 saw the approval of significant modifications to the GST rates, which took effect on January 1, 2023. The GST Council also changed the GST rates for a few significant commodities in 2022 at its meetings. Some revisions were made to address the current inverted tax system, while others were made to increase revenue. The summarised information about the adjustments to India's GST rates with the new GST rates 2023 is included in the following parts.

GST Rate Changes at 48th GST Council meeting

The GST Council approved the following amendments in its 48th meeting, which was held on December 17, 2022, and CBIC notified them to take effect on January 1, 2023:

Item description

Before amendment

After amendment

A husk of pulses, along with chilka and concentrates, chuni or churi, and khanda used as cattle feed*

5%

nil

Ethyl alcohol is sold to refineries to blend it with motor spirit or petrol

18%

5%

Sale of Mentha arvensis, similar to Mentha oil

No RCM

Under RCM

The following are details on tax rates for the provision of goods and services:

Rab, also known as rab-salawat, is categorized under HSN code 1702 and is subject to an 18% GST rate.

GST is applied at 18% on "fryums" produced by extrusion and particularly specified by HSN code 19059030.

If 4 conditions are met, a cess on SUV at 22% will apply:

  • Popularly known as SUV,

  • The engine capacity of more than 1500 cc,

  • Length more than 4000 mm and

  • Ground clearance equal to or more than 170 mm

For petroleum operations, 5% GST is charged on imported products and equipment that fall under the concessional 5% GST rate category, and 12% GST is charged if the general GST rates are higher than 12%.

If the residential property is rented to a GST-registered individual's actions in their individual capacity for their use/account as a residence and not for business, no GST is charged.

GST is not applied to incentives provided by the Central Government to banks as a subsidy for the development of RuPay Debit Cards and low-value BHIM-UPI transaction programs.

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