Question

What is the highest rate of Goods and Services Tax (GST) in India?
1. 28%
2. 22%
3. 12%
4. 18%

Answer 1

Correct Answer - Option 1 : 28%

The correct answer is 28%.

• The council meeting was held to 'reduce' the tax rates on certain items based on customer preferences.
• Hence, no additional items were added to the highest GST rates slab of 28%.
• The GST rates for various products are subject to change from time to time without prior information.

•  The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18%, and 28% under GST.
  • This is aside from the tax on gold that is kept at 3% and rough precious and semi-precious stones that are placed at a special rate of 0.25% under GST.
  • Though there are five slab rates, consultancy services fall under 18% slab only. Other GST slabs are 0%, 5%, 12%, 18% and 28%.
  • Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
  • GST is a single domestic indirect tax law for the entire country.