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What are GST and its different percents
21-Oct-2023 (In GST Law)
hello what is gst and different percents
For G.S.T. the rates are o % 5% 12% 18% and 28% under normal scheme. Special rate for gold,silver etc precious metal3%.For dealers opting for composition the rates are 1% , 2% and 5% respectively for resellers, manufacturers, and food and drinks supplied in hotels. For dealers opting for composition no set off is available of input tax credit. Composition is not available for service providers except supply of food and drink in hotels.
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Adv. Guthe Valmik Vitthal
Mumbai | 25+ Answers
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A four-tier GST tax structure of 5%, 12%, 18% and 28%+ , with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all- powerful GST Council
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Adv. Vilesh Bhaurao Bondade
Nagpur | 25+ Answers
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