AIBE XVII — February 2023 — Q.88 (Central Goods and Services Tax Act, 2017)

Q.88

Taxation Law Medium Knowledge-Based

Bare Act Central Goods and Services Tax Act, 2017 · Rate Schedules

The primary GST slabs for any regular taxpayers are presently pegged at

A 0%, 5%, 12%, 18%, 26%

B 0%, 6%, 12%, 18%, 28%

✓ 0%, 5%, 12%, 18%, 28% Answer

D 0%, 5%, 12%, 16%, 28%

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Explanation & Strategy

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The current GST structure has 4 primary tax slabs: 5%, 12%, 18%, and 28%. There's also a 0% rate for essential items, and a special 0.25% rate for rough diamonds. Most everyday goods fall in 5-12%, services in 18%, and luxury/sin goods in 28% (plus cess on some items like cars and tobacco).

At a Glance

Subject Taxation Law

Difficulty Medium

Act Central Goods and Services Tax Act, 2017

Section Rate Schedules

Answer (C) Knowledge-Based

Paper AIBE XVII — February 2023

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