New Delhi: The all-powerful GST Council has finalised tax rates for bulk of the items, approved the rates of GST compensation cess to be levied on certain goods as well as decided on a four-slab tax rate for services along with the novel concept of input credit for goods used.
Under the new tax regime, rates will range from 5 to 28 percent, with 12 percent and 18 percent being the standard rates.
The cess would be levied over and above the peak GST rate of 28 percent.
Though no consensus could be reached on the rate to apply on gold as well as beedi, the Council will meet again on June 3 in New Delhi for a decision in this regard.
Here is your complete guide to rates for services, items and compensation cess and find out what's getting dearer and cheaper
Check out the complete list of services under GST:
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Schedule%20of%20GST%20...
Click below the link to know the GST rates item-wise
http://www.cbec.gov.in/resources//htdocs-cbec/gst/chapter-wise-rate-wise...
Click below the link to know the cess rates item-wise
http://www.cbec.gov.in/resources//htdocs-cbec/gst/gst-compensation-cess-...
