GST: Auto likely to face the brunt of 28% tax bracket plus cess

Consumer goods and life-saving drugs to get cheaper

The country moved a step ahead in adopting its biggest tax reform since Independence, namely, the Goods & Services Tax (GST), with the GST Council fixing the rates for 1,211 items on Thursday.

Consumer goods and life-saving drugs are likely to be cheaper. Automobiles might get costlier, with cars likely to come in the 28 per cent bracket, plus cess.

Of the 1,211 items, seven per cent are on the exempt list, 14 per cent will be taxed at five per cent, 17 per cent will be taxed at 12 per cent, 19 per cent will be taxed at 28