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About India GST

Time:2017-07-11 18:26:17Click rate:

The Goods and Services Tax (GST) is all set to be rolled out on July 1 and the rates of 1,211 goods have already been decided. The tax rates under GST  for products and services will be at five per cent, 12 per cent, 18 per cent and 28 per cent. There are also products that will attract zero per cent taxes. Finance Minister Arun Jaitley has recently announced that the impact of GST will ‘not be inflationary’ and in some cases it is even likely to drop. Taxes will be implemented more effectively as the existing network of indirect taxes like excise duty, service tax, Value Added Tax (VAT), central sales tax and octroi will be replaced by one single tax.


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