SRINAGAR: Foodgrains, cereals and milk will cost less from July 1 when the Goods and Services Tax (GST) is rolled out as the GST Council today decided to exempt these daily-use commodities from the levy.
Common use products like hair oil, soaps and toothpaste will be charged with a single national sales tax or GST of 18 per cent instead of present 22-24 per cent tax incidence through a combination of Central and State Government levies.
The GST rates for all but six items were finalised at the first day of the two-day meeting here of the GST Council, headed by Union Finance Minister Arun Jaitley and comprising state representatives.
Milk and curd will continue to be exempt from taxation when the Goods and Service Tax (GST) replaced current indirect taxes. ‘Mithai’ or sweets will attract 5 per cent levy. (AGENCIES)
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