Council finalises 4-tier GST rates structure
rinagar: Education and health care will continue to be exempt from taxation in the upcoming GST regime that will tax services at four different rates with transport, including economy class air travel, being taxed at 5 per cent.
The GST Council finalised four tax rates of 5, 12, 18 and 28 per cent to apply to services including telecom, insurance, hotels and restaurants under the biggest tax reform since the Independence.
The rates are in line with those finalised for goods. With this, rates of all items except a handful including gold, have been decided ahead of the roll-out of the Goods and Services Tax (GST) regime from July 1.