GST council finalises tax on services; exempts education, healthcare
Kerala Finance Minister Thomas Issac said there will be four rates for services at 5, 12, 18 and 28 per cent, similar to tax slabs for goods.
The all-powerful GST Council today finalised tax rates for services under the Goods and Service Tax (GST) regime, scheduled to kick-in from July 1.
Healthcare and education would be exempt from GST. Kerala Finance Minister Thomas Issac said there will be four rates for services at 5, 12, 18 and 28 per cent, similar to tax slabs for goods.
The tax rate on gold has not been finalised yet, he said, adding that the Council will meet again on June 3.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.