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Healthcare, education to remain exempted from GST
The Goods and Services Tax (GST) Council on Friday exempted healthcare and education from the tax. The new GST regime is all set to be rolled out on July 1.
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Srinagar
Healthcare, education to remain exempted from GST while services to be taxed at 5, 12, 18, 28 percent
Restaurants with turnover of Rs 50 lakh or below to face 5% tax under GST and non-AC restaurant at 12%, said Finance Minister Arun Jaitley.Â
AC restaurants and those with liquor licence to charge 18% GST and 5-star hotels to levy 28%. Hotels with tariff of Rs 1,000-2,500 to pay GST at 12%.
Telecom, financial services will attract GST of 18 per cent and 28% tax will be levied for race club, betting and cinema halls.
Five per cent GST to be levied on cab aggregators like Ola and Uber, says Jaitley.
Economy class air travel to attract 5% GST and business class at 12% said Revenue Secretary Hasmukh Adhia.
He also added that e-commerce players like Flipkart, Snapdeal will have to deduct 1% TCS (tax collected at source) while making payments to suppliers.
Travelling on metro, local train, religious travel, Haj yatra will all be exempt from GST said Adhia.
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