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Four-tier GST rate structure finalised: Jaitley


NEW DELHI:  A four-tier GST rate structure of 5, 12, 18, 28 per cent decided by the all-powerful GST Council.

"We have been able to finalise GST rate structure," says Finance Minister Arun Jaitley

Zero-tax rate to apply to 50 per cent of items in CPI basket, including foodgrains used by common man, says FM.

5 per cent duty will be levied on items of mass consumption used by common people; two standard rates of 12 and 18 per cent will be there in GST: FM

Items taxed at 30-31 per cent (excise plus VAT) will be taxed at 28 per cent: FM.

Additional revenue from highest tax slab to be used to keep essential use items at 5 per cent and transferring common use items to 18 per cent: FM.

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