GST Rates for Goods under Goods and Services Tax

GST Rates for goods under Goods and Services Tax

GST Rates for goods under Goods and Services Tax

GST Rates for goods or Goods and Services tax rates for goods have been declared.  Goods and services tax,  is the indirect tax being introduced by Government of India. GST is a tax which combines various indirect taxes being charged by Central and State governments, which resulted in multiple receipts/payment/compliance being needed for multi-state business.

What is GST

The existing indirect tax laws are origin-based tax, structured to levy and collect at the point of happening of the prescribed taxable event. The indirect taxes are prone to abuse and also they do not focus on value being added to the product or service. GST will remove this major weakness and will also track the flow of goods or services across India. Goods and Services Tax will also make it easier for good or services to be provided across India.

GST Tax Rates

Applicable tax rates for Goods and Services Tax have been announced and are listed below for downlaod. Companies can schedule their product pricing and tax liability for upcoming months, post-implementation of Goods and Services Tax across India.

The rate list as announced by CBEC and Government of India can be downloaded by clicking the link – GST-rate-schedule-of-good-18.05.2017 GST-rate-schedule-of-good-18.05.2017.

Professionals, tax consultants, accountants can use the below links to be updated on Goods and Services Tax

– Team Vskills

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