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India finalises tax rates for goods and services

Reuters  |  NEW DELHI 

By Manoj KumarNEW DELHI (Reuters) - India on Thursday finalised tax rates that will apply to different goods and services under a new sales tax which New Delhi aims to roll out from July 1. A panel comprising central and state finance ministers fixed the rates for over 1200 items under the Goods and Services tax, amid demand by some states to keep essential items under the lower tax category."Out of 1,211 items, GST rates on all except six categories have been decided," Finance Minister Arun Jaitley told reporters after a meeting in Srinagar, the capital of Jammu and Kashmir.The panel will ...

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First Published: Thu, May 18 2017. 19:26 IST