Govt finalizes 4 Tax Slabs to implement GST across India

04 Nov,2016

Central Government and State Government have reached a consensus over the tax rate slabs under Goods and Services Tax Bill.

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Central Government and State Government have reached a consensus over the tax rate slabs under Goods and Services Tax Bill. The tax rates of the GST was taken on Thursday in the GST Council Meet. The decision on the slabs will help to implement the GST across India by April 2017.

In order to cover all the products and commodities into the ambit of GST, the Council meeting has decided four tax slabs. In order to safeguard the interest of the rural population, the government has finalized a 0% tax rate for the basic commodities included in the Consumer Price Index. The four slabs are 5%, 12%, 18% and 28% depending on the variety of good and commodities.

digital strategy consulting

Central Government and State Government have reached a consensus over the tax rate slabs under Goods and Services Tax Bill. The tax rates of the GST was taken on Thursday in the GST Council Meet. The decision on the slabs will help to implement the GST across India by April 2017.

In order to cover all the products and commodities into the ambit of GST, the Council meeting has decided four tax slabs. In order to safeguard the interest of the rural population, the government has finalized a 0% tax rate for the basic commodities included in the Consumer Price Index. The four slabs are 5%, 12%, 18% and 28% depending on the variety of good and commodities.

digital strategy consulting

Take a closer look

See for yourself how our ERP and CRM Solutions help your business grow.

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Healthcare Product

See how preventive healthcare product can help to reduce your losses

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