Topyaps Logo

Topyaps Logo Topyaps Logo Topyaps Logo Topyaps Logo

Topyaps menu

Responsive image

This Is How Much The GST Is Levied Across The World

Updated on 24 November, 2017 at 10:31 pm By

GST or Goods and Services Tax came into existence on July 1, 2017. GST is a multi-layered and destination-based tax that will be levied on every purchase. The implementation of the tax replaced the multiple cascading taxes charged by the central and the state government. The tax is levied on every transaction in the supply of goods and services, barring certain exempted items such as petroleum products. Under GST, goods and services are taxed under tax slabs of 0 per cent, 5 per cent, 12 per cent, 18 per cent and 28 per cent. Recently, the GST Council announced a cut in the rates of over 200 items, as well as a cut in the GST rate for all restaurants, barring those in starred hotels, to 5 per cent. While the Council reduced the GST rates of 178 items, mostly consumer items of daily use, from the highest tax slab of 28 per cent to 18 per cent, only 50 luxury items now remain in the 28 per cent slab. It must be noted that the government has also approved the creation of the National Anti-profiteering Authority to ensure that businesses pass on the benefits of GST to consumers.

India has the highest tax rate out of all the countries that have implemented GST.


Advertisement

 

Take a look GST rates around the world:

#1 France

Eurail

France has GST at 2.01 %, 5.5%, 10%, and 20 % since 1954.

#2 New Zealand

newzealandnz

New Zealand’s GST was 10% since 1986 and in 2010, it increased to 15%.



#3 Australia

Gapyear

The taxes were introduced in 2000 at 10%.

#4 Singapore

Youtube

GST was implemented in 1994 at 3% and in 2007, it increased to 7%.

#5 Malaysia

says

The GST was introduced in 2015 at 6%.

#6 Canada

CANVISAS


Advertisement

The rate is 5 % for most of the products and some products have 15% GST.

Advertisement

Latest Stories

Here’s Google’s report of the best Android apps 2020 in India

Here’s Google’s report of the best Android apps 2020 in India


Kangana Shared A Two Piece Picture of Her Got Trolled on Twitter

Kangana Shared A Two Piece Picture of Her Got Trolled on Twitter


17 Unseen Photos of Harshita Gaur, Famous Actress of Sadda Haq & Mirzapur

17 Unseen Photos of Harshita Gaur, Famous Actress of Sadda Haq & Mirzapur


Mia Khalifa Caught Using Her Face Mask To Pick Up Dog Poo And Put It back On Her Face

Mia Khalifa Caught Using Her Face Mask To Pick Up Dog Poo And Put It back On Her Face


Glamorous Avatar of Rasika Dugal, Mirzapur Actress Will Have You Drooling All Over Her Instagram Feed

Glamorous Avatar of Rasika Dugal, Mirzapur Actress Will Have You Drooling All Over Her Instagram Feed


Advertisement

Most Searched

More From Business

Popular on The Web