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Saturday, 20 May 2017

EXCLUSIVE: Full list of GST rates for services; IPL in 28% slab, property at 12%

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The GST council on Friday fixed rates for a host of services, placing them under four slabs—5,12,18 and 28 percent—as India’s plans for a country-wide goods and services tax (GST) entered the final leg.

Under GST, supply of food and drinks in outdoor catering attract a tax rate of 18 percent, while entry into IPL matches and race courses will attract a 28 percent GST.

Renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes where room tariff of Rs 2500 and above, but less than Rs 5000  per room per day, will also attract a GST rate of 18 percent.

Bundled service by way of supply of food or any other article of human consumption or any drink, in a premises (including hotel, convention center, club, pandal, shamiana or any other place, specially arranged for organizing a function) together with renting of such premises will be under the 18 percent GST slab.

Services by way of admission or access to circus, Indian classical dance including folk dance, theatrical performance, drama will come under the 18 percent bracket, while real estate will attract a 12 percent GST rate.

The fitment of rates of services were discussed on Friday during the 14th GST Council meeting held at Srinagar, Jammu & Kashmir.

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