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; Similarly, present incidence of taxes on Milk Powder, Tea and… Read More »
GST Tariff-As per GST Council Meeting held on 18th May 2017 Paperback – 2017 by Taxmann (Author) As per GST Council Meeting held on 18th May 2017. Incorporating GST Rates for Services Services under Reverse Charge Exemptions to Services Classification of Services GST Rate for Goods GST rates for Goods with HSN Code Price 690… Read More »
A quick guide to India GST rates in 2017 The GST Council, the apex decision-making body for the new tax, has fixed the tax framework under the Goods and Services Tax (GST) which is to be rolled out this July 1. Tax rates have been finalised for 1,211 items with a majority of items being… Read More »
The 14th Goods and Services Tax (GST) Council meeting chaired by the Union Finance Minister Shri Arun Jaitley approves GST rates for goods and GST Compensation Cess The 14th Goods and Services Tax (GST) Council Meeting, chaired by the Union Minister of Finance Shri Arun Jaitley, was held at Srinagar, Jammu and Kashmir yesterday. The… Read More »
GST Rate Schedule for Goods [ GST Rate Schedule for Goods as per discussions in the GST Council Meeting held on 18th May, 2017] The fitment of rates of goods were discussed today during the 14th GST Council meeting held at Srinagar, Jammu & Kashmir. The Council has broadly approved the GST rates for goods… Read More »
GST Council decided the GST Rates
GST Rates approved by GST Council (India) The GST Council announced the GST Rates on 03.11.2016 and here is a snapshot of the announcements made today: Essential items including food : Zero Rates Common use items : 5% Other Items : Standard Rate of 12% and 18% luxury goods : 28% Luxury cars, tobacco and… Read More »
10 things to know about GST council meet The Centre is bracing for a testy debate after it proposed a cess on sin goods to compensate states for losses arising from a transition to the tax. The three-day meeting of the goods and services tax (GST) council ended on Wednesday with no consensus on the GST rate. The… Read More »
GST: Centre, states put off decision on rate to next month “We have converged towards a consensus, announcement will be made after next GST Council meeting. Two standard rates of 12 per cent and 18 per cent under discussion,” said Jaitley. Union Finance Minister Arun Jaitley on Wednesday said the rate structure for Goods and Services… Read More »