What is the Rate of GST?
Clarity regarding which commodity fall in which rate is yet to be out. However a brief description has been given as below:
|1.||0%||Essential Item Including Food|
|2.||5%||Common Use Item|
|3.||12% or 18%||Standard Rate|
|4.||28%||Items which are currently taxable with30%-31%|
|5.||28% along with Cess||Luxury and de-merits goods|