Taxmann launches tool to find historical GST rates – The Financial Express

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  • Last Updated on 28 October, 2020
August 3, 2019
 
Ansh Bhargava, Director, Taxmann.com, says
 
Taxmann, a research website for tax and corporate laws, has launched a new tool to find the GST rates applicable for different dates. From July 1, 2017, the GST regime, which came into force has 7 rates for goods: Nil, 0.25, 3, 5, 12, 18, and 28 per cent, and 5 rates for services: Nil, 5, 12, 18, and 28 per cent. Since July 2017, these rates have been frequently changed. Ansh Bhargava, Director, Taxmann.com, says, “This tool has been developed because appellate authorities and revenue would require the historical GST rates during assessments and appellate proceedings”.
 
Old & New GST Rates for Goods & Services
 
India follows the Harmonized System of Nomenclature (HSN) developed by the Worlds Customs Organization (WCO), for easy and systematic classification of GST rates of goods. HSN contains eight digits uniform code that classifies 5,000+ products and it is accepted worldwide. For the classification of services, 6 digits Services Accounting Code (SAC) is followed by India.
 
 

Read full article here: Taxmann launches tool to find historical GST rates 

 
 

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