Is medicine exempted from GST?
The nil GST on medicines is currently only applicable to human blood and its derivatives as well as all types of contraceptives.
The highest GST rate on medicines i.e.
18% is applicable only to products containing nicotine polacrilex such as nicotine gum..
Are books GST exempt?
Printed books is exempted from paying GST. As per GST Law, there is no GST payable on Printed books. So the rate of GST payable on Printed books is nil rate. The Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods.
Where is GST not applicable?
Petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel etc. are not attracted GST. However, the taxes for these products are attracted as per the structure before introduction of GST.
Who is exempted from GST in India?
You are exempt from GST if you are supplying goods and/or services below Rs. 10 Lakh of value in the state ofJammu & Kashmir (J&k), Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttrakhand. Composition Levy : If your business turnover is less than Rs.
Which of the are excluded from GST?
Non-application of GST is called GST exemption….GST exemptions for goods.Types of goodsExamplesVegetablesTomatoes, potatoes, onions, etc.FruitsBananas, grapes, apples, etc.Dry fruitsCashew nuts, walnuts, etc.Tea, coffee and spicesCoffee beans, tea leaves, turmeric, ginger, etc.22 more rows•Jun 13, 2020