GST India Forum – Goods and Services Tax (GST) in India › Forums › Discussion › GST Rates
- PriyankaParticipantDecember 24, 2016 at 4:59 PMPost count: 2Topics: 2
Been thanked: 0 times
Is the rate structure finalised and what are the rates?CA Ashish BadalaModeratorDecember 24, 2016 at 5:19 PMPost count: 184Topics: 181
Been thanked: 5 times
The GST council has not provided any rate list for GST. However the slab rates are finalised and the principle to cover the items under each rate list is also provided.
The principle to cover different items under different tax brackets are as under:
Exempted: Essential commodities
5 percent: Items of mass consumption
12 and 18 percent: Standard rate on most items (The reason to have two standard rates is to maintain the inflation impact)
More than 28 percent: Demerit and Luxury goods
You must be logged in to reply to this topic.