bulbul Posted December 4, 2015 Posted December 4, 2015 he committee decided to provide a range for the GST rate for various products and services: from 12 percent to 40 percent (the higher rate being applicable for select products such as luxury cars or tobacco products, etc). However, the key revenue neutral rate suggested by the CEA panel stood at 15-15.5 percent. The standard rate for GST stood at 17-18 percent, the rate at which most products would likely be taxed. The panel excluded real estate, electricity and alcohol and petroleum products while calculating the tax rate, as some states have expressed reservations over giving up tax control on the lucrative items but the CEA panel suggested these be brought under the GST ambit soon. CEA-led panel recommends 15-15.5% GST revenue neutral rate http://www.moneycontrol.com/news/economy/cea-led-panel-recommends-15-155-gst-revenue-neutral-rate_4466321.html?utm_source=ref_article
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