Last updated: January 25th, 2024 12:10 PM
GST Rates for Different Goods and Services in India
Understanding GST rates is crucial for entrepreneurs as they can impact the pricing of goods and services. The GST Council of India regularly updates these rates, influencing the cost of various items and services in the country. In this article, we will explore the current GST rates for common goods and services you may use. IndiaFilings offers a powerful tool for accessing the latest GST rates, HSN codes, and SAC codes for over 20,000 goods and services. [shortcode_73]Goods and Services Tax
GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services. Introduced on July 1, 2017, GST replaced multiple indirect taxes in India, simplifying the taxation system. Enacted by the Central Government in the Budget Session of 2017 and approved by Parliament on March 29, 2017, GST consolidated various taxes like Central Excise Duty, VAT, and Entry Tax. This comprehensive tax applies to the manufacturing, selling, and consuming of goods and services nationwide. Small and large organisations must obtain a GST Identification Number to register under the GST policy. For intra-state sales, Central GST and State GST are levied, while Integrated GST is charged for inter-state transactions.GST Rates in India
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