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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 ra .....

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ation are very reasonable as it is subsuming all the current indirect tax levies including excise duty, VAT, Service Tax, and entry tax. I consider it as five tier rate structure and not four tier rate structure as one of the important rate under GST .....

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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 exempte .....

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ies made from precious metals with or without stones may attract lower rate than currently announced lowest rate of 5%. However, jewellery made up with higher caret stone or over the specified grams may get covered under the category of luxury goods .....

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nal cesses will also be imposed over and above 28% slab rate on Luxury cars, tobacco products, and aerated drinks. Therefore, such luxury products will be chargeable to much higher rate than recommended rate by the GST council. Services likely to att .....

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