On the first day, the GST Council categorised 80 to 90 per cent goods and services under the four tax slabs stipulated under the GST Act. Essential commodities have been placed in the lowest tax bracket, that is five per cent. Rates close to the existing incidence of excise duty coupled with VAT or service tax has been considered to be the rate under GST. Food*****s will cost less from July 1 when the nation-wide Goods and Service Tax (GST) is ...
05-31-2017, 12:03 AM
GST: Rice, dal to become cheaper
On the first day, the GST Council categorised 80 to 90 per cent goods and services under the four tax slabs stipulated under the GST Act. Essential commodities have been placed in the lowest tax bracket, that is five per cent. Rates close to the existing incidence of excise duty coupled with VAT or service tax has been considered to be the rate under GST. Food*****s will cost less from July 1 when the nation-wide Goods and Service Tax (GST) is ...
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