https://www.taxtmi.com/news?id=16777 Four-tier GST rate structure establishes a low rate for mass consumption items, two intermediate standard rates, and a highest standard rate replacing prior excise plus VAT burdens; approximately half of CPI items, including staple foodgrains, are zero rated or exempt. Revenue from the highest slab is to be used to support lower rates on essentials. Decisions on additional luxury levies and a proposed dual control model remain outstanding, and parliamentary and state legislative approvals are required to implement the GST. en-us Thu, 03 Nov 2016 17:20:58 +0530 Thu, 03 Nov 2016 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16777 Four-tier GST rate structure establishes a low rate for mass consumption items, two intermediate standard rates, and a highest standard rate replacing prior excise plus VAT burdens; approximately half of CPI items, including staple foodgrains, are zero rated or exempt. Revenue from the highest slab is to be used to support lower rates on essentials. Decisions on additional luxury levies and a proposed dual control model remain outstanding, and parliamentary and state legislative approvals are required to implement the GST. News - Thu, 03 Nov 2016 17:20:58 +0530 https://www.taxtmi.com/news?id=16777