GST rate slabs are set. Here’s what is getting expensive and cheaper

The Goods and Services Tax (GST) Council finally fixed the rate slabs at 5%, 12%, 18% and 28%.

The GST Council meeting set the standard GST rate at 12% and 18%, 28% for white goods, and 28% plus cess for luxury items such as SUVs, etc.
Jaitley said the GST, which has been a long pending issue and is expected to propel growth and boost manufacturing in India, progress was as per schedule.

"There was a broad consensus on four rate slabs," Haseeb Drabu, state finance minister for Jammu & Kashmir told reporters after attending the GST Council's meeting.

Jaitley said the 5% duty was on items of mass consumption. "There will be standard rate of 12 and 18% on other items."

"Tobacco will fetch 28% sin tax, excluding cess. Aerated drinks will also fetch tax at the same rate. Most white goods to be taxed at 28% but with riders," he said.

As the government plans to roll out the new indirect tax regime from April 1, 2017, here are the items that are going to get expensive and cheaper.