BUSINESS

Products used by common man to cost less: Centre

Under GST, pulses and atta will be tax-free.

Under GST, pulses and atta will be tax-free.  

Branded foodgrains and flours to attract 5% rate under GST

Leaving no room for doubt that the Goods and Services Tax (GST) regime will be rolled out from July 1, Finance Minister Arun Jaitley has written to leaders of all political parties to thank them for making it possible to introduce the new indirect tax system from that date.

Several consumer goods purchased on a daily basis by the common man would become cheaper once the GST is implemented, the Finance Ministry said in a separate statement. Except branded foodgrains and flours that will attract a 5% GST, cereals, pulses and atta will be tax-free.

Salt, milk

Similarly, fresh milk, vegetables and fruits, puffed rice, common salt, animal feed, organic manure, fire wood, raw silk, wool and jute will attract no tax.

“Due to no GST on these items, most of them are expected to become cheaper in the range of approximately 4-5% as compared to their existing prices,” the Ministry said.

In his missive to the presidents of different political parties, Mr. Jaitley extolled their cooperation in the passage of the Constitutional amendment to enable the GST and three laws to implement the same and urged them to ensure that their MPs and MLAs are familiar with the new tax system.

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