GST Rates Revised for 27 Goods and 12 Services

The Goods and Services Tax (GST) is one of the biggest reforms in India’s indirect tax structure post-independence. Since its implementation on 1st July 2017, SMEs have sought clarity concerning the changes that the new four-tiered tax structure will bring into the taxation system.

Through the GSTN Educational Series, we attempt to offer clarity regarding GST and the resounding impact it will have on the Indian economy as a whole. We evaluate the far-reaching implications that this attempt at ‘One Nation, One Tax’ legislation will have on SMEs in India.

The revised rates of indirect taxes for every good and service are specified in detail along with the modifications for inbound and outbound transactions. A simple infographic illustrates how to register under GST in four easy steps and lists the necessary documents required to be submitted by Private Limited companies, Partnerships and Individuals.

Source URL :  https://blog.capitalfloat.com/gst-rates-revised-27-goods-12-services/