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GST Rate on 178 Daily Items Cut to 18% from 28%

November 13, 2017

In one of the biggest announcements under the GST regime, tax rates on over 200 items such as wrist watches, cosmetics, etc. have been cut to provide relief to the end consumers as well as businesses. What’s more, 178 of these items have been placed under the lower tax slab of 18% from the current 28%. Restaurants, including both air-conditioned and non-air-conditioned, are also to be charged the same rate of 5% GST.

Currently, AC restaurants are charging 18% GST on the food bill, while the non-AC restaurants are charging 12%.

Tags:
Finance

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