Next Article
GST rates change on September 22: What to know
Business
GST rates have just changed as of September 22. The State GST department wants traders and service providers to pass on the benefits to everyone.
The GST Council revised the rate slabs into a two-tier structure of 5% and 18%.
There's also a new, much higher 40% tax coming soon for things like cigarettes, beedi, gutka, and pan masala—but that date hasn't been announced yet.
Tips for traders
If you're selling products that will get hit with the new 40% tax, you'll need to record your current stock as of September 21 and update your billing systems so taxes are charged correctly.
For now, old rates stay until the big change happens.
If you want more details or compliance tips, check out www.keralataxes.gov.in.