Standard Goods and Services for GST in India A major share of GST tax payers falls under this category of Standard Goods and Services. A standard rate of GST is charged against the goods and services under this category. Special Goods and Services for GST tax levy Under special category of ...
These updates reflect the ongoing efforts of the GST Commission to streamline compliance procedures and improve taxpayer relief mechanisms and ensure effective governance in tax administration. GST Rate Slabs Check out the table given below to get a concise overview of theGST rateslabs and examples of...
Under GST, all goods and services transacted in India are classified under the HSN code system or SAC Code system. Goods are classified under HSN Code and services are classified under SAC Code. Based on the HSN or SAC code, GST rates have been fixed in five slabs, namely NIL, 5%, 12...
The GST tax rates in India are divided into four slabs:5%, 12%, 18%, and 28%. Some goods and services are exempt from GST, and others are taxed at a special rate of 0.25% to 3%. The GST council periodically reviews the tax rates and makes changes as necessary. Impact of GST on ...
HSN Chapter 85 has different GST rate slabs according to which GST rates are applicable on the purchase of mobile phones. Therefore it is mandatory to mark the correct HSN code to prevent wrong invoicing and extra charges. Product NameHSN Code GST Rate Parts for the manufacture of telephones ...
Goods and Service Tax (GST) rate tariff in India is designed in 6 categories of goods and services. Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively. Commonly used Goods and...
All goods and services exchanged in India are categorised as part of the SAC code system or the HSN code system under GST. Goods are categorised using the HSN Code, while services are categorised using the SAC Code. GST rates have been set in five classes called slabs which are predicated...
Goods and Service Tax (GST) rate tariff in India is designed in 6 categories of goods and services. Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively. Commonly used Goods and...
GST Rates in India 2025: List of Goods and Services Tax Rates, Slabs, & Revisions Read More→ GST Rate on Labour Charges Read More→ SAC Codes Read More→ Real Estate GST Rates – Recent Clarifications Read More→ UQC (Unit Quantity Code) in GST ...
4. Uniformity in Tax Rates The Goods And Service Tax has brought uniformity in the tax rates across the country by replacing the multiple indirect taxes imposed by the central and state governments. Theonline GST verificationprocess is simple. It has four standardised tax slabs: 5%, 12%, 18%...