GST Council approves 4-tier rate at 5%,12%, 18% and 28%

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Following the GST Council meet on Thursday, Finance Minister Arun Jaitley said that the panel has fixed a four-tier GST rate structure at 5%, 12%, 18%, and 28% slabs. The peak rate will be applicable for FMCG and consumer durables. Further, there will be zero tax rate on food grains used by common people, Jaitley added.

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