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TMI BlogProposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less;X X X X Extracts X X X X X X X X Extracts X X X X ..... Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less; - Goods and Services Tax - GST Dated:- 25-5-2017 - News - Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less; Similarly, present incidence of taxes on Milk Powder, Tea and Coffee (other than instant coffee) is 7% while proposed GST rate on these items is only 5%. Proposed GST Tax rates would be much lesser than the prevailing incidence of taxes in case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder. Details in this regard are as follows: 1. Sugar : Sugar attracts specific central excise duty of ₹ 71 per quintal plus Sugar Cess of ₹ 124 per quintal, which translates to ad valorem rate of more than 6%. Including incidence on account of account of CST, octroi, and entry tax etc., the present total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax incidence would work out to more than 8%. As against this, the proposed GST rate on sugar is only 5% i.e. 3% less than present incidence of taxes. 2. Tea and coffee (other than instant coffee) : Tea and coffee attract Nil central excise duty and VAT rate of 5%. Considering embedded taxes in production of tea and coffee and the incidence on account of CST, octroi and entry tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etc., the present total tax incidence works out to more than 7%. As against this, the proposed GST rate for tea and coffee (other than instant coffee) is only 5%. 3. Milk powder : Milk powder attracts Nil central excise duty and 5% VAT. Considering embedded taxes in production of milk powder and the incidence on account of CST, octroi, and entry tax etc., the present total tax inci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dence works out to more than 7%. As against this, the proposed GST rate on milk powder is only 5%. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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