Hindi IAS100
Register
ias100.in Official Website for Civil Services Chronicle IAS 100
You are here: Editorials
More Clarity in the GST Regime
The tax rates of over 1200 goods under the Goods and Services Tax (GST) regime is finally out. The details of the rates were announced by the GST council met in Srinagar. This has given more clarity on the GST regime set to be operational from July1. In an initial list of 1211 items, 43% of the goods will be taxed at a rate of 18%. 17% of items fall under 12% slab and another 14% will be under 5% tax rate.7% of the items, comprising essential goods have been exempted from all taxes. While a significant 19% of items is placed under the highest slab of 28% tax rate. Along with these four slabs, additional cess has been imposed on luxury and sin goods. The government has said that the GST regime would be revenue neutral. While progressive taxation is justifiable, the high tax rate of 28% could disappoint the middle class. Over all, the tax regime cannot be said to be simplistic as expected.

Read More

Share Button
Advertisement

Subscribe IAS100 Newsletter

 Editorials
»  Implication of new cattle trade rules
»  Manchester Terror Attack and Mounting Challenges
»  Law Commission on bail law reforms
»  Indias Growing Ties with Africa
»  EVM hackathon to dispel security concerns
»  A Second Term for Rouhani
»  More Clarity in the GST Regime
»  Indias Gold Appetite
»  The End of A Civil War and Beyond
»  Vying for consensus
»  Showing the mirror to indian racists
»  Paper trail and elections
»  Human animal conflicts and crowd dynamics
»  Being inclusive of disabilites in our digital push
»  Bit issues and turning back the clock
More..» 
Name* :   
  E-mail* :   
  Mobile* :   

  Your Query* :

  
  
Home | About Us | Contact Us | Terms & Conditions | Refund Policy | Delivery Policy | Disclaimer | Copyright Policy | Privacy policy |
Partner sites :  chronicleias.com | chronicleindia.in | cgmantra.in
 

Feedback

Please Give Your Valuable FEEDBACK To Serve You Better.

  *
  *
  *
  *
  *
Please enter security code, displayed below !
(Note: code should be entered in small letters)