The Centre and states on Friday crossed another major milestone towards launching GST (goods and services tax) by agreeing on a four-tier tax structure for services that should make economy class air travel and cinema tickets cheaper. The government maintained that cost of other services will not rise, but not all industries and tax consultants are as convinced. The four slabs of 5%, 12%, 18% and 28% mirror the GST rates on goods announced on Thursday.
The Centre and states on Friday crossed another major milestone towards launching GST (goods and services tax) by agreeing on a four-tier tax structure for services that should make economy class air travel and cinema tickets cheaper. The government maintained that cost of other services will not rise, but not all industries and tax consultants are as convinced. The four slabs of 5%, 12%, 18% and 28% mirror the GST rates on goods announced on Thursday.
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