GST :Tax rates on services
Written by : SMTV24x7 | Fri, Jun 30, 2017, 01:19 PM
Hyderabad India, June 30: A new tax regime will be unveiled today night. The Government will implement GST from July 1.
The council has decided the tax rates for different goods and services.The following will be the taxes levied on Services.
0 tax or exempt from GST
Hotels and lodges with tariff below Rs 1,000.
Train travel (sleeper class).
Many service tax exemptions have been exempted under GST.
5 % tax on services
Transport services (Railways AC, air transport economy class), small restaurants will be under the 5%.
12 % tax on services
State-run lotteries, Non-AC hotels, business class air ticket, fertilizers, Work Contracts.
18 % tax on services
AC hotels that serve liquor, telecom services, IT services, branded garments and financial services will attract 18 per cent tax under GST, Room tariffs between Rs 2,500 and Rs 7,500, Restaurants inside five-star hotels, banking. Movie tickets priced below RS 100.
28 % tax on services
Private-run lotteries authorized by the states, hotels with room tariffs above Rs 7,500, 5-star hotels, race club betting, Movie tickets above RS 100.