How Much Taxes You Pay For Services Post GST: Find Out From This Interactive
To make things easier for you, News18 has compiled a list of how services will be taxed under the new GST regime.
Representative image.(Network18 Creatives)
It has been three days since India’s midnight tryst with Goods and Services Tax (GST), or ‘Good and Simple Tax' as Prime Minister Narendra Modi likes to call it.
Understanding this ‘simple’ tax, however, has been a challenge for consumers and retailers alike, with many issues cropping up after the rollout.
Dubbed as the biggest tax reform in the history of independent India, GST subsumes the litany of central and state levies for just one tax that is to be divided between the central and state governments. It has four tax slabs – 5%, 12%, 18% and 28%, and additional cess on some products.
But there is still confusion on how to categorise some services, and there have been several cases of errors in bills. Many have taken to social media to share wrongly taxed items. For example, in one case, a woman was charged Value Added Tax (VAT) as well as GST on her purchase.
To make things easier for you, News18 has compiled a list of how services will be taxed under the new GST regime:
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