Dear all!
I want to know whether GST Rate will be Single rate for everyone or It will be in Slabs.
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Single rate in GST
Replies (3)
as for as the updates are concerned there will be two rates on intra state which are CGST and SGST, and taxes on interstate will be IGST,
till now no exact rates are notified for example i will tell you as
interstate CGST and SGST is 10& 10 total 20%
and IGST will be 20%
till now no exact rates are notified for example i will tell you as
interstate CGST and SGST is 10& 10 total 20%
and IGST will be 20%
I dont think single rate is possible ...CGST AND SGST will be there... like CA Srujaan kumar Reddy has said rates have not been fixed yet.. only act has been passed in the Parliament.. GST may be applicable from April 2018 ....
As per report of chief economic advisor the rate of the GST would be in four slabes:
merit rate, applicable on certain necessary items and goods of basic importance, a standard rate applicable on most of the items, a nil rate on certain goods and services and a special rate for precious metals.
merit rate, applicable on certain necessary items and goods of basic importance, a standard rate applicable on most of the items, a nil rate on certain goods and services and a special rate for precious metals.
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