GST Rates 2024 – List of Latest Goods and Service Tax Rates Slabs

Goods and Services Tax is a tax collected at the source whenever someone purchases an item that comes under the GST.

It stands for the Goods and Services Tax which is a comprehensive tax and the rate of which is decided by the GST Council headed by the finance minister.

 The implementation of the GST started in July 2017 and ever since that, the GST collection has seen an amazing jump.

The GST council, which is responsible for determining the tax rates, periodically revises the rates based on various factors such as economic conditions, revenue collections, and the needs of various industries.

Goods and Services Tax (GST) is a value-added tax that has been implemented in India since July 2017, replacing the previous complex taxation system. GST is levied on all goods and services sold within the country and has a significant impact on businesses and consumers alike.

It is essential to stay updated on the changes in the GST rate as it impacts the pricing and cost of goods and services. In this article, we will discuss GST Rates 2024 – List of Latest Goods and Service Tax Rates Slabs, etc.

GST Rates 2023 - List of Latest Goods and Service Tax Rates Slabs

GST Rate List (Item Wise & HSN Code)

The following are the GST Rate list item wise along with the HSN Code-

Category NameHSN CodeGST Rate
Rakhi, Rakhi Thali25000
Printed Books  
Quotation Book, Scrap Book, Autograph Book, Remembrance Book, Slam Book, Record Book49010
Books & Periodicals49020
Drawing Book, Children’s Picture49030
Bangles70180
Handloom  
Handloom Shawls, Scraf, Stole84000
Fresh Flower06000
Incense Stick33040
Imitation Jewellery  
Imitation Jewellery, Crystal Jewellery, Fashion Jewellery, Bracelet,Bands  7117  3
Sweets04045
Paper Sheet, Printed Paper49015
Readymade Garments52085
Readymade Garments, Caps, Tie, T-Shirt52085
Gifts  
Candle340612
Belts420312
Hanging442112
Timer440012
Tray440012
Basket460012
Visitors Book481712
Gift Card481712
Paper Product481712
Stationery Set481712
Quotation-Paper481712
Planner481712
Party Goods481712
Exercise Book481712
Stationery481712
Note Book & Dairy482012
Paper Bag481912
Box481912
Gift Box481912
Jewellery Box481912
Invitation Sheet490912
Poster491112
Shagun Envelope490012
Envelopes490012
Gift Tag490912
Playing Cards490912
Greeting Card490912
Unicef Card & Calendars491012
Calendar491012
Heart Stick660012
Umbrella660112
Knife821112
Address & Telephone Index851712
Mobile Accessories851712
Telephone851712
Dolls950312
Soft Toy950312
Soft Toy950312
Toy S950312
Games950312
Soft Toy950312
X-Mas Santa950312
Book Mark960812
Hair Accessories961512
Writing Instruments960812
Writing Instruments960812
Writing Instruments960812
Writing Instruments960812
Ribbon & Bows970112
Handicraft Item970112
Card Holder392618
Lunch Box392318
Message Pad390018
Money Bank390018
Polyresin392418
Quotation-Others390018
Trinket Box392318
Wallets390718
Pouches-Others400018
Bags – Others420218
Bags – Leather420218
Gift Bag420218
Hand Bag420218
Ladie’s Purses & Bags420218
Party Bag420218
School Bags420218
Clip Board480018
Note Pad Holder480018
Passport Holder480018
Note Pad480018
Organiser Diary480018
Diary480018
File/Clip Folder482018
Letter Pad482018
Stamp Album482018
Coin Album482018
Photo Album482018
Ceramic Mugs691218
Table Set691118
Accessories691218
Bowl691218
Gift Item691218
Gift Set691218
God Figure691218
Show Piece/Statue691218
Vase691218
Bottle732312
Candle Stand732312
Charms701818
Coaster701218
Collectible701218
Cork Screw Set701218
Crystal Show Piece701218
Cufflink732312
Cutter732312
Drinking Glass701218
Glass Items701218
Glassware701218
Hip Flask732312
Sunglasses701318
Water Bottle732312
Badge720018
Button Buddies720018
Opener732312
Steel Finish Products732312
Key Chains732312
Leather Keychain731518
Kitchen Accessories732312
Gold Frame830618
Photo frame830618
Wind Chime830618
Calculator850018
Cd Case850018
Cd’s & Cassettes850018
Electrical Goods850018
Holder850018
Magnet850018
Radio850018
Clock910518
Holi Material320418
Chocolates170428
Cosmetics330428
Indian Fragrance330028
Manicure Set330428
Parfume330728
Bathroom Accessories340028
Balloon401628
Artificial Flowers670228
Mirror700928
Watches910128
Watches Above 5000910128
Lamp940528
Decoration Material950528
X-Mas Decoration950528
Ashtray961428
Cigarette Case961428
Lighter961328
What is the GST rate list?

The GST rate list is the list of rates of different goods and services which are subject to the GST. It is decided by the GST Council periodically and is based on the economic need of various industries as well as the general population. Currently, GST is charged at 0, 3, 5, 12, 18, and 28% GST on Goods and Services.

How does the new GST rate list impact businesses?

GST rate list affects the price of the goods and services in the market and with an increase in GST rate, the customer has to pay more for the product hence, decreases the demand for the product in the market resulting in a reduction of the price of the goods as well as a reduction in the profit of the business, vice-e-versa is also true.

How does the new GST rate list affect consumers?

The cost of the goods increases or decreases with the new GST rate implementation. The reduction in tax rates for certain items may lead to a decrease in prices, while the increase in tax rates for other items may lead to an increase in prices.

How often does the GST rate list get updated?

GST Council is responsible for deciding the GST rates and is updated periodically. GST council headed by the finance minister meets every few months and discusses the GST rates to ensure they manage the  

What is the latest car GST rate for purchasing a new car?

For purchasing a new car, the GST Rate of 28% applies to the car. The high rate of tax is implemented due to its consideration of luxury items.

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