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Rates for Goods & Services Tax

Goods and Services Tax - GST - By: - Monarch Bhatt - Dated:- 5-11-2016 Last Replied Date:- 6-11-2016 - On 03rd day of November, 2016 GST council began it s two days discussion wherein, centre had proposed for four tier rate structure. The proposed rate structure by the centre was 6%, 12%, 18% and 26%, which was finalised with slight modification and the finalised rates are 5%, 12%, 18% and 28%. My quick views on GST rates are as follows. In my view GST rates, adopted by the council for recommend .....

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o avail Input Tax Credit charged on the purchase of goods or while procuring the services. Assesse will be eligible for the refund of such credit availed by them. Under the current indirect tax system, majority of similar kind of products are exempted and due to exemption assessee is not able to claim the credit available with them. In-turn it becomes cost for the assessee. Hence, Zero rated tax will beneficial for the assessee. Precious metals like gold bars, silver bars, platinum, and jeweller .....

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