Question

Mention the slabs or percentages of tax under gst

Answer 1

it make commmidity so expensive as it apply 28/ gst on branded clothes

Answer 2

Solution :-

GST has been structured in a way that essential services and food items are placed in the lower tax bracket, while luxury services and products have been placed in the higher tax bracket. The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5 %, 12 % 18 % and 28 % under GST. This is aside the tax on gold that is kept at 3 % and rough precious and semi-precious stones that are placed at a special rate of 0.25 % under GST.

A total of 81 % of all the goods and services fall below or in the 18% tax slab. This means that 7 % of the items come under the exempted list, 14 % of the items attract a 5 % tax, 17 % items attract  a 12 % tax and 43 % of the items attract an 18 % tax slab, while only 19 % of the items fall under the highest tax slab of 28 % in the new regime.