The Goods and Services Tax (GST) has been one of the most important things that have caught the attention of the media and the market because of its implications on the earnings of companies. A large number of items have been kept under 18% GST rates slab by the government. Around 1211 items were categorized under various slabs based on their GST rates. Given below is low-down on the tax slab that these items would attract, along with their GST rates:
The complete updated list:
Gold and rough diamond will be taxed at 3% and 0.25% respectively. They do not fall under the current rate slab ambit.