A number of countries are following GST regime and their GST Rate in % is as appended below and sectors likely to benefit in India due to GST and sectors likely to fall due to GST can be seen by clicking the given links.
Australia - 10%
France - 19.6%
Canada - 5%
China - 17%
Germany - 19%
Mauritius - 15%
Japan - 5%
Singapore - 7%
Sweden - 25%
New Zealand - 15%
South Africa - 14%
Central Taxes subsumed under GST in India post GST
✓ Central Excise Duty (including additional excise duty)
✓ Service Tax
✓ Additional Customs Duty
✓ Special Additional Duty of customs Luxury Tax
✓ Central surcharges and Cess
✓ Entertainment Tax
✓ Value Added Tax
State Government Taxes subsumed under GST in India post GST
✓ Central Sales Tax
✓ Octroi & Entry Tax
✓ Purchase Tax
✓ Taxes on lottery, betting and gambling
✓ State Cesses and Surcharges
✓ Entertainment Tax
✓ Value Added Tax
Check the video below to understand the GST implications for India.
Do get free stock market updates in your inbox by filling the subscription box here on the website under this post or as given in the right side bar.
Australia - 10%
Canada - 5%
China - 17%
Germany - 19%
Mauritius - 15%
Japan - 5%
Singapore - 7%
Sweden - 25%
New Zealand - 15%
South Africa - 14%
Central Taxes subsumed under GST in India post GST
✓ Central Excise Duty (including additional excise duty)
✓ Service Tax
✓ Additional Customs Duty
✓ Special Additional Duty of customs Luxury Tax
✓ Central surcharges and Cess
✓ Entertainment Tax
✓ Value Added Tax
State Government Taxes subsumed under GST in India post GST
✓ Central Sales Tax
✓ Octroi & Entry Tax
✓ Purchase Tax
✓ Taxes on lottery, betting and gambling
✓ State Cesses and Surcharges
✓ Entertainment Tax
✓ Value Added Tax
Check the video below to understand the GST implications for India.
Do get free stock market updates in your inbox by filling the subscription box here on the website under this post or as given in the right side bar.
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