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India's new GST leaves service providers worried

Reuters  |  NEW DELHI 

By Manoj Kumar and Rajesh Kumar SinghNEW DELHI (Reuters) - India on Friday unveiled four rate bands under a new sales tax for services such as telecoms, insurance and restaurants, a move experts said could complicate compliance and leave businesses at the mercy of an intrusive tax bureaucracy.The Goods and Services Tax (GST), set to be launched from July 1, will have rates of 5, 12, 18 and 28 percent for services, in line with those applying to goods. It is a big departure from the current regime, where a single rate of 15 percent is applied on most services.The biggest argument in favour of ...

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First Published: Fri, May 19 2017. 19:59 IST
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