RATES UNDER GST
The Goods and Services Tax (GST) Council, at its fourteenth meeting on 18th May 2017 held in Srinagar, has approved the rate structure on majority of the goods and services. The Government classified 1211 items under 98 categories of goods in various tax slabs i.e. 5%, 12%, 18% and 28% and has kept a large number of items under 18% tax slab.
Please click here at links given below for complete GST rate schedule
GST Council also cleared draft Rules on Registration, Invoice, Payment, Refund, Input Tax Credit, Valuation and Composition. Rules for Transition and Returns have been forwarded to the Law Commission for validation.
As GST is set to be launched on 1st July 2017, it is important to understand who are required to get enrolled / registered before the appointed date i.e. the day when law comes into force.
Here are the rates decided by the GST Council on 3rd June, 2017:
For further enquires on GST, please contact us at: singh@carajput.com
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