ABOUT GST RATE IN DIFFERENT COUNTRIES:
The combined GST rate is being discussed by government. The rate is expected around 18% to 22%. After the Total GST Rate is arrived at, the States and the Centre will decide on the CGST and SGST rates.
GST Rates on Goods & Services – to be based on Revenue Neutral Rate (RNR) There will be Four rates:
Merit rate for essential goods and services,
Standard rate for goods and services in general,
Special rate for precious metals, &
NIL rate
Current Rate of GST in some other countries are :
🏻Australia 10%,
🏻France 19.60%,
🏻Canada 5%,
🏻Germany 19%,
🏻Japan 8%,
🏻Singapore 7%,
🏻Sweden 25%,
🏻New Zealand 15% &
🏻Pakistan17%
You may like a few other posts
GST Return compliances calendar- Nov 2020
SALIENT FEATURES OF NEW GST SYSTEM IN INDIA
Key points of 42nd GST council Meeting headed By FM N. Sitharaman
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