What is the GST Rate List for Goods Right Now?
The Goods and Services Tax reform is the latest tax reform that has taken the country by storm. It has replaced all the other indirect taxes that existed in India. One fine day all the taxes such as, Central Excise Duty, VAT, CST, Entertainment Tax and more were subsumed into the GST to give India a unified tax structure. From Jammu and Kashmir to Kanyakumari, one tax system is followed, which is the Goods and Services Tax. This tax reform has helped eliminate the cascading effect of taxes which made the price of final goods really high. Since GST , the prices of some goods have come down, less tax evasions, fast movement of goods from state to state so that it does not affect the cost of goods. GST’s success can’t be measured fully at this point of time because it has just been a year and a half since it has been implemented. The real success can only be measured when it has its full swing. There are three taxes that compromises the Goods & Services Tax system - CGST, SGST, ...