GST Rates for Services under Goods and Services Tax or GST tax rates for services have been announced by Government of India. Services to be charged indirect taxes was awaited. Goods and services tax rates for services covers services being provided by individual or companies. 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 Service Rate
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 –
Professionals, tax consultants, accountants can use the below links to be updated on Goods and Services Tax
- Tutorials for Goods and Services Tax
- Practice Test for Goods and Services Tax
- Certification in Goods and Services Tax
– Team Vskills