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Four-tier rate structure, cess for luxury goods: Takeaways from GST meet

Centre, states agree on compensation formula; cess on cards for ultra-luxury items

Dilasha Seth & Arup Roychoudhury  |  New Delhi 

The GST Council on Tuesday discussed a four-tier rate structure suggested by the Centre and agreed on compensation to loss-incurring states for the first five years of the new tax regime. The Opposition might voice differences with the proposal. The council was apprised of the proposal of these slabs — 6, 12, 18 and 26 per cent, with cess on the highest tariff for ultra luxury and demerit items. The proposal also includes four-per cent rate on gold, but the Centre said it can’t be called a slab because it is specific to just one commodity. Discussions will ...

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Four-tier rate structure, cess for luxury goods: Takeaways from GST meet

Centre, states agree on compensation formula; cess on cards for ultra-luxury items

Centre, states agree on compensation formula; cess on cards for ultra-luxury items The GST Council on Tuesday discussed a four-tier rate structure suggested by the Centre and agreed on compensation to loss-incurring states for the first five years of the new tax regime. The Opposition might voice differences with the proposal. The council was apprised of the proposal of these slabs — 6, 12, 18 and 26 per cent, with cess on the highest tariff for ultra luxury and demerit items. The proposal also includes four-per cent rate on gold, but the Centre said it can’t be called a slab because it is specific to just one commodity. Discussions will ... image
Business Standard
177 22

Four-tier rate structure, cess for luxury goods: Takeaways from GST meet

Centre, states agree on compensation formula; cess on cards for ultra-luxury items

The GST Council on Tuesday discussed a four-tier rate structure suggested by the Centre and agreed on compensation to loss-incurring states for the first five years of the new tax regime. The Opposition might voice differences with the proposal. The council was apprised of the proposal of these slabs — 6, 12, 18 and 26 per cent, with cess on the highest tariff for ultra luxury and demerit items. The proposal also includes four-per cent rate on gold, but the Centre said it can’t be called a slab because it is specific to just one commodity. Discussions will ...

image
Business Standard
177 22