Report Submitted To Finance Ministry to Keep 40 Percent GST Rate on Tobacco
Dec 04, 2015: The Committee headed by the Chief Economic Adviser Dr. Arvind Subramanian on Possible Tax rates under GST submitted its Report to the Finance Minister. The panel has recommended a standard rate of 17-18 per cent under the proposed goods and services tax (GST).

There will be a demerit good rate that is higher than the standard rate that will apply to goods such as tobacco, the use of which needs to be discouraged.

The Committee recommended 40 percent GST rate (Centre plus states) for luxury cars, aerated beverages, paan masala, and tobacco and tobacco products (for the states).
Back
 
 
2007 RCTFI , All Rights Reserved. Home | About Us | What We Do | Programmes | GOI Orders | Resources | Media Gallery | Photo Gallery | Contacts Us