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Rate wise classification of goods and services under gst
IF ANY PERSON HAS ANY LIST REGARDING RATE WISE LIST OF GOODS AND SERVICES UNDER GST
Replies (3)
HI Mitul,
The GST council has not provide 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:
|
Tax Rate |
Items |
|
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 |
How to claculate tax on GST?
thanks sunil kumar
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