Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less;

Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less; https://www.taxtmi.com/news?id=18081 Proposed 5% GST rates for sugar, tea and coffee (other than instant coffee), and milk powder are lower than current combined tax incidence: sugar's specific excise and cess plus local levies yield total incidence above 8% (making the 5% GST about three points lower), while tea, coffee and milk powder face VAT and embedded production taxes producing incidence above 7%, compared with the proposed 5% GST. en-us Thu, 25 May 2017 18:04:55 +0530 Thu, 25 May 2017 18:04:55 +0530 TaxTMI RSS Generator Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less; https://www.taxtmi.com/news?id=18081 Proposed 5% GST rates for sugar, tea and coffee (other than instant coffee), and milk powder are lower than current combined tax incidence: sugar's specific excise and cess plus local levies yield total incidence above 8% (making the 5% GST about three points lower), while tea, coffee and milk powder face VAT and embedded production taxes producing incidence above 7%, compared with the proposed 5% GST. News - Thu, 25 May 2017 18:04:55 +0530 https://www.taxtmi.com/news?id=18081