Rate notifications under GST for goods & services.

The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India, designed to simplify the complex tax structure and create a unified national market. Introduced in 2017, the GST replaced multiple state and central taxes, such as VAT, service tax, and excise duty, with a single tax that is transparent and easier to administer. GST is structured into different tax slabs — 0%, 5%, 12%, 18%, and 28% — depending on the nature of goods or services.

The government has periodically adjusted GST rates to simplify the tax structure, improve compliance, and ensure equitable taxation across goods and services. These adjustments aim to balance revenue generation with economic growth, affecting industries ranging from hospitality to manufacturing. Notably, changes have been made to address issues of tax cascading, streamline tax slabs, and reduce the burden on essential goods and services.

Source : TaxLok