GST Slabs Shuffle That Has Taken Place in the Recent Past
Call it the populist move or the desire to make it a uniform tax, the GST slabs have been constantly shuffled around by the government which sits on a pre-decided date to fine tune the indirect tax structure of the country. Normally, the shuffle happens by taking out the goods and services from higher slabs to the lower ones. This results in lowering the cost of the products and saving quite a few bucks for the customers. So, spare some time with us to look at the shuffle of GST slabs in the recent past. December Meet Sees Only 28 Items Remaining in the Top Slab of 28% The GST Council sat on December 22, 2018, and decided to take out 6 items from 28% to lower slabs. With that, only 28 items are there in 28% slab, including a few luxury, automobile and cement items. The government has given the new year gift by slashing the GST tax rates for pilgrims on their flights. Now, the GST rates applicable are 5% and 12% for economy and business classes, respectively...