Union Cabinet announces new GST rates

Finance minister Arun Jaitely fixed the GST rates and the historic tax reform will be rolled out on July1st.Health care and education will remain exempted from GST reforms. The new GST rates are as follow; Restaurants with turnover of Rs50 lakh or below to face 5%tax and non-ac restaurants at 12%.AC restaurants and those with liquor license to charge 18% GST,5 star hotels to levy 28% and hotels with tariff Rs 1000-2500 to pay 12% rate. Telecom, financial services to attract GST of 18%, 28% tax for race club, betting and cinema halls.5% on Ola and Uber .Consumer staples lowest at 5%.