The tax rates would range from 5 to 28 percent, with 12 percent and 18 percent as standard rates, – steeper than the rates of 6, 12, 18 and 26 percent earlier proposed by the government.
The fifth rate for gold and precious metals, which was earlier proposed at 4%, will be decided later but is likely to be lower.
- Common man’s dal-chawal untouched
- The peak rate of 28% will apply to luxury goods
- Additional cess