What is the highest rate of Goods and Services Tax (GST) in India?1. 2

1.	What is the highest rate of Goods and Services Tax (GST) in India?1. 28%2. 22%3. 12%4. 18%
Answer» Correct Answer - Option 1 : 28% The correct answer is 28%. The council meeting was held to 'reduce' the tax rates on certain items based on customer preferences. Hence, no additional items were added to the highest GST rates slab of 28%. The GST rates for various products are subject to change from time to time without prior information. The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18%, and 28% under GST. This is aside from the tax on gold that is kept at 3% and rough precious and semi-precious stones that are placed at a special rate of 0.25% under GST. Though there are five slab rates, consultancy services fall under 18% slab only. Other GST slabs are 0%, 5%, 12%, 18% and 28%. Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is a single domestic indirect tax law for the entire country.

What is the highest rate of Goods and Services Tax (GST) in India?1. 28%2. 22%3. 12%4. 18%

Answer» Correct Answer - Option 1 : 28%

The correct answer is 28%.

The council meeting was held to 'reduce' the tax rates on certain items based on customer preferences.
Hence, no additional items were added to the highest GST rates slab of 28%.
The GST rates for various products are subject to change from time to time without prior information.

The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18%, and 28% under GST.
- This is aside from the tax on gold that is kept at 3% and rough precious and semi-precious stones that are placed at a special rate of 0.25% under GST.
- Though there are five slab rates, consultancy services fall under 18% slab only. Other GST slabs are 0%, 5%, 12%, 18% and 28%.
- Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
- GST is a single domestic indirect tax law for the entire country.