Proposed Four GST slabs
The GST is proposed to be levied at 6% (lower rate), 12% (Standard 1 rate), 18% (Standard 2 rate) and 26% (Higher rates) on the goods and services. It will be 0% on host of goods and services, including food, health and education services, and 26% on luxury items, such as fast-moving consumer goods and consumer durables. On consumption of ultra-luxury items and demerit goods, such as big cars and tobacco products, cess must be imposed over and above a 26% GST rate.
What is GST Council? As per Article 279A of the Constitution, GST Council will be a joint forum of the Centre and the States. It shall consist (i) Union Finance Minister (Chairperson). (ii) The Union Minister of State (MoS) in-charge of Revenue of finance (Member) and (ii) The Minister In-charge of taxation or finance or any other Minister nominated by each State Government (Members).
What is GST Council? As per Article 279A of the Constitution, GST Council will be a joint forum of the Centre and the States. It shall consist (i) Union Finance Minister (Chairperson). (ii) The Union Minister of State (MoS) in-charge of Revenue of finance (Member) and (ii) The Minister In-charge of taxation or finance or any other Minister nominated by each State Government (Members).
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