GST Free Items: The new GST 2.0 framework comes into effect today, September 22nd, bringing good news for the general public. Various essential items have been kept outside the purview of GST, which will significantly reduce the tax burden on the common person. In this post, we will discuss a detailed list of GST-free products and their impact.
Table of Contents
List of GST-Free Products
Under GST 2.0, many products have been made tax-free starting today. Some of the important items include:
- Food Items: Fresh fruits, vegetables, milk, eggs, curd, lassi, paneer, meat, fish, honey, jaggery, and loose-selling food grains, flour, gram flour, etc.
- Raw Materials: Raw silk, wool, khadi yarn, jute, charcoal, and handmade goods.
- Tools: Equipment used in agriculture, spades, shovels, and assistive devices for persons with disabilities.
- Educational Materials: Books, notebooks, pencils, sharpeners, erasers, crayons, maps, and globes.
- Others: Newspapers, postcards, non-judicial stamp papers, clay idols, bangles, bindi, kumkum, and contraceptives.
Impact of GST Exemption
With the list of GST-free products becoming effective from today, it is expected to have a positive impact on the general public. The prices of many daily-use items will decrease, which will be a relief for middle-class and lower-income families. Particularly, removing tax from food and educational materials will improve the standard of living for the common person.
Points to Remember
- Packaged Goods: It is important to remember that GST may still be applicable on branded and packaged goods. For example, while loose flour is GST-free, packaged branded flour might attract a 5% GST.
- Services: GST exemption has also been provided for some services, such as education, health, and agricultural services.
This new GST structure is expected to strengthen the country’s economy and make life easier for the general public.
