The GST Council has announced the Proposed Rates of Tax under GST to be implemented in India w.e.f. 01-04-2017.<\/p>\n
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There are 5 Categories of GST Rate’s that have been accepted by the all powerful GST Council with full concensus:-<\/p>\n
1. Zero Rated Items – Including Food Grains and Other Essential Items to taxed @ 0%;<\/p>\n
2. Mass Consumption Items – Which will be Taxed @ 5%;<\/p>\n
3. Standard Rate (Slab 1) – Which will be Taxed @ 12%;<\/p>\n
4. Standard Rate (Slab 2) – Which will be Taxed @ 18%; and<\/p>\n
5. Highest Rate Slab – Including White Goods that will be Taxed @ 28%.<\/p>\n
In addition to the GST, certain items like Luxury Car, Tobacco and Aerated Water will be subjected to additional Cess in addition to the Highest Tax Rate.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The GST Council has announced the Proposed Rates of Tax under GST to be implemented in India w.e.f. 01-04-2017. There are 5 Categories of GST Rate’s that have been accepted by the all powerful GST Council with full concensus:- 1. Zero Rated Items – Including Food Grains and Other Essential Items to taxed @ …<\/p>\n