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What is the rate structure proposed under GST?

Question 12 - Frequently Asked Questions (FAQ) GST - Goods and Services Tax - Question 12 - Q 12: Ans: The Empowered Committee has decided to adopt a two-rate structure -a lower rate for necessary items and items of basic importance and a standard rate for goods in general. There will also be a special rate for precious metals and a list of exempted items. For upholding of special needs of each State as well as a balanced approach to federal flexibility, it is being discussed whether the exempte .....

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