Srinagar, May 26, 2017: Terming that the proposed Goods and Service Tax (GST) consumer-friendly, Finance Minister Arun Jaitley today said healthcare and education sector have been kept out of its ambit. In its meeting, the GST Council has fixed four tax slabs for the services sector – five per cent, 12 per cent, 18 per cent and 28 per cent. Announcing the GST rates for services sector, Mr Jaitley said, ‘The GST rates have hardly been increased. They have been either kept at the existing rate or reduced.’ The restaurants having turnover of Rs 50 lakh will be taxed at five per cent while AC and non-AC restaurants to be charged at 12 per cent and 18 per cent, respectively under new regime. The luxury hotels to be taxed at 28 per cent, he said. For transport services, the GST Council has fixed the rate at five per cent. Hotels and lodges with a tariff of Rs 1,000 has been exempted from any tax.
United News Of India
