Question : How many tax slabs are classified in the GST Bill?
Option 1: Seven
Option 2: Three
Option 3: Eight
Option 4: Four
Answer (1)
26th Jan, 2024
Correct Answer: Four
Solution : The correct option is Four .
India's goods and services tax (GST) has four tax slabs.
- 5% - This slab is applied to essential goods.
- 12% - Goods and services falling under this slab included items that were neither classified as essential nor as luxury.
- 18% - This slab covered a range of goods and services, including items considered in the mid-tier in terms of taxation.
- 28% - This is the highest slab, applied to luxury goods and services.
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