The Goods and Services Tax Council broadly agreed on 4 tax brackets for services (5%, 12%, 18% and 28%), though they are yet to decide on a tax bracket for gold.
Finance minister Arun Jaitley, at a presser in Srinagar, listed out the details, which were:
1) All services have been fitted into four different rates, which are 5%, 12%, the standard 18% and the luxury rate of 28%
2) Transport services (Railways, air transport) will be under the 5% category their main input is petroleum, which is outside GST ambit.
3) Service tax on non-AC hotels will 12%, on AC hotels that serve liquor will be 18%. Higher tax rate for luxury hotels.
4) Hotels and lodges with tariff below Rs 1,000 will be exempt. Those with Rs 2,500-5,000 will be 18%. Luxury hotels will face tax of 28%.
Finance minister Arun Jaitley, at a presser in Srinagar, listed out the details, which were:
1) All services have been fitted into four different rates, which are 5%, 12%, the standard 18% and the luxury rate of 28%
2) Transport services (Railways, air transport) will be under the 5% category their main input is petroleum, which is outside GST ambit.
3) Service tax on non-AC hotels will 12%, on AC hotels that serve liquor will be 18%. Higher tax rate for luxury hotels.
4) Hotels and lodges with tariff below Rs 1,000 will be exempt. Those with Rs 2,500-5,000 will be 18%. Luxury hotels will face tax of 28%.
5) 28% tax slab on 5-star hotels, race club betting, cinema.
6) 18% tax slab for telecom, financial services
7) E-commerce players to deduct 1% tax at source before paying suppliers. E-retailers such as Flipkart and Snapdeal to pay GST.
8) 5% tax to be levied on cab aggregators like Ola and Uber
9) Economy class air travel to attract 5% GST, business class 12%
10) Healthcare and education have been exempted from the service list
6) 18% tax slab for telecom, financial services
7) E-commerce players to deduct 1% tax at source before paying suppliers. E-retailers such as Flipkart and Snapdeal to pay GST.
8) 5% tax to be levied on cab aggregators like Ola and Uber
9) Economy class air travel to attract 5% GST, business class 12%
10) Healthcare and education have been exempted from the service list
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