Misleading thread title
Just after PM Wong visit
INDIA GOVERNMENT Announce reduce of GST
GST Revamp: What's Cheaper, Costlier? See Full List HereThe council approved the rate overhaul by limiting slabs to 5 per cent and 18 per cent.
The Goods and Services Tax (GST) Council on Wednesday approved a complete overhaul of India's tax consumption tax since its launch in 2017, slashing duties on household essentials, medicines, small cars and appliances and affecting everything from toothpaste and insurance to tractors and cement.
The council approved the rate overhaul by limiting slabs to 5 per cent and 18 per cent, as the Centre seeks to boost domestic spending and cushion the economic blow of the US tariffs imposed on Indian goods.
The council reduced the current four slabs - 5, 12, 18 and 28 per cent - to the two-rate structure of 5 per cent and 18 per cent. A special 40 per cent slab is, however, proposed for a select few items such as high-end cars, tobacco and cigarettes.
The new rates for all products, except pan masala, gutkha, cigarettes, chewing tobacco products like zarda, unmanufactured tobacco and bidi, will be effective September 22.
https://www.ndtv.com/india-news/gst...t-here-gst-council-meeting-news-rates-9213334
INDIA GOVERNMENT Announce reduce of GST
GST Revamp: What's Cheaper, Costlier? See Full List HereThe council approved the rate overhaul by limiting slabs to 5 per cent and 18 per cent.
The Goods and Services Tax (GST) Council on Wednesday approved a complete overhaul of India's tax consumption tax since its launch in 2017, slashing duties on household essentials, medicines, small cars and appliances and affecting everything from toothpaste and insurance to tractors and cement.
The council approved the rate overhaul by limiting slabs to 5 per cent and 18 per cent, as the Centre seeks to boost domestic spending and cushion the economic blow of the US tariffs imposed on Indian goods.
The council reduced the current four slabs - 5, 12, 18 and 28 per cent - to the two-rate structure of 5 per cent and 18 per cent. A special 40 per cent slab is, however, proposed for a select few items such as high-end cars, tobacco and cigarettes.
The new rates for all products, except pan masala, gutkha, cigarettes, chewing tobacco products like zarda, unmanufactured tobacco and bidi, will be effective September 22.
https://www.ndtv.com/india-news/gst...t-here-gst-council-meeting-news-rates-9213334
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