Hirunews Logo
HiruNews
HiruNews
HiruNews
India+sets+rates+in+major+sales+tax+reform
Friday, 04 November 2016 - 13:42
India sets rates in major sales tax reform
98

Shares
11,828

Views
India has set rates for its new Goods and Services Tax (GST) system, its biggest tax reform since independence.

The new rates will range between 5% and 28% depending on the product, with 12% and 18% as the standard.

The long-awaited changes aim to streamline the country's fragmented tax system and transform it into a single market.

Currently, everything sold in India is subject to a multitude of taxes varying from state to state.

Indian businesses have been lobbying for the countrywide tax rates as the reform is expected to reduce costs, particularly for shipping goods across state borders.
Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
HiruNews
Thursday, 16 August 2018 - 16:24
Mangroves play a critical role in maintaining the ecological balance in Sri Lanka's coastal areas.However, some money-hungry people do not understand this.Our... Read More
HiruNews
News Image
Hiru News Programme Segments
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
2,911 Views
HiruNews
HiruNews
HiruNews
6,901 Views
HiruNews
HiruNews
HiruNews
8,122 Views
HiruNews
HiruNews
HiruNews
20,904 Views
HiruNews
HiruNews
HiruNews
737 Views
HiruNews
HiruNews
HiruNews
52,452 Views
Top