GST rates: FMCG to gain, SUVs to get cheaper, small cars to get costlier

The government has broadly kept the tax rates as closest to their the existing tax rate structures

The Goods and Services Tax (GST) Council, in its crucial two-day meeting, finalised the most-awaited tax rates for various goods and services (except few items like gold, biscuits, footwear, apparel and beedi). With this, GST implementation has inched another step closer to reality, raising optimism about 1 July 2017 rollout. 

Notably, for most goods, the government while finalising the fitment of rates for various goods  has broadly kept the tax rates as closest to their the existing tax rates. 

However, for the services, the Council has agreed to four tax rate slabs (from current single  tax  rate slab currently), have