Goods And Services Tax

Tax Rates On 29 Goods And 53 Categories Of Services Slashed

The GST Council has reduced the tax rate on 29 goods and 53 categories of services by bringing them in lower category. The revised tax rates will be effective from 25 Jan. The Goods and Service Tax Council took the decision on 19 Jan 2018. The GST on entry services to theme parks, water parks, joy rides, go-carting and ballet has been reduced from 28% to 18%. On tailoring service, GST has been reduced from 18% to 5%. Work services for manufacture of leather goods and footwear will be available at a tax rate of 5%. The GST rate on ...

  • Jan
  • 19
  • 2018

Goods and Services Tax slashed for over 200 items, Eating out might get cheaper

Eating out might get cheaper after 15 Nov as the Finance Minister Arun Jaitley has declared a reduction in GST rates on over 200 items. The initial GST rates for air-conditioned restaurants was 18% and for non ac restaurants was 12% but now it has been slashed down to 5% on all food items. VAT (Value Added Tax) will continue to be charged for alcohol. Alcohol still does not follow under GST.     The President of Delhi Hotel and Restaurant Owner's Association Sandeep Khandelwal has welcomed the new tax rates as this may encourage people to enjoy restaurants and pay taxes. People ...

  • Jan
  • 11
  • 2017