GST on Bricks & Tobacco Remains 12% & 28%
Business
The government keeps GST rates unchanged on bricks and tobacco; a notification may be issued soon explaining why rates were not reduced.
The central government will issue a notification to retain GST rates on bricks and tobacco products at 12 per cent and 28 per cent respectively. The notification will clarify that only bricks will attract 12 per cent GST rate. The notification has been internally approved and is now awaiting Finance Minister Nirmala Sitharaman's approval.
Since the 12 per cent GST rate is being abolished, a notification is required to retain the existing tax on bricks. A government source said, "The notification will clarify that only bricks will attract 12 per cent GST rate."
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GST on Bricks & Tobacco Remains 12% & 28%
Business
The central government will issue a notification to retain GST rates on bricks and tobacco products at 12 per cent and 28 per cent respectively. The notification will clarify that only bricks will attract 12 per cent GST rate. The notification has been internally approved and is now awaiting Finance Minister Nirmala Sitharaman's approval.
Since the 12 per cent GST rate is being abolished, a notification is required to retain the existing tax on bricks. A government source said, "The notification will clarify that only bricks will attract 12 per cent GST rate."