Centre notifies CGST rates effective Sept 22

New Delhi: The Union Finance Ministry has notified Central GST (CGST) tax rates for goods, which will be effective from September 22. States will now have to follow suit and notify the State GST (SGST) rates to be levied on goods and services beginning Monday. Under GST, the revenues are shared equally between the Centre and the states. Effective Monday, GST will be a two-tier structure, wherein the majority of goods and services will attract tax of 5 and 18 per cent. A 40 per cent tax will be levied on ultra luxury items, while tobacco and related products will continue to be in the 28 per cent plus Cess category.