28% GST on luxury items
Posted on: 17/Mar/2017 2:57:54 PM
The GST Council has fixed the maximum of 15% additional tax over the GST of 28% on luxury items.
The central government has planned to implement a revised and more uniform GST (Goods and Services Tax) eliminating the current system of the different variety of taxes in different states throughout the country.
In order for the above, a special GST Council has been formed headed by the Central Finance Minister Arun Jaitley and all the state finance ministers.
A GST of 28% has been levied on luxury items and the revenue from this will be given to the state governments.
In this situation, another unanimous decision was taken – the additional tax on the luxury items and cool drinks has been restricted to a maximum of 15%. This additional tax is over the GST of 28% levied on luxury items.
