Goods and service tax in four slabs

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  1. RSJ Lexsys

    RSJ Lexsys New Member

    GST Council has taken a step ahead towards making GST a reality. They have lifted veil from the most awaited part of GST i.e. the tax rates. They have introduced the following rates:
    • 0% – Food grains of high public consumption and which contributes to almost 50% of the inflation index;
    • 5%-12%-18% – other Goods and services
    • 28%- white goods like AC, washing machine and the likes
    • 40% & 65%- aerated drinks, Pan Masala, Tobacco products , high cars and other luxury items
    GST will promote compliance through e-compliance tools for managing the compliances and promote tax governance.
     
  2. Robin1

    Robin1 New Member

    GST council has announced tax rates on different categories of goods on day one of a two-day meeting of the said council at Srinagar. The tax rates have divided into four different slabs 5%, 12%, 18%, and 28%.
     
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