The conversation between human and AI assistant.
What exactly is GST? It's consequences and benefits?
Can you explain the different GST rates?
Yes, there are four GST rates in India - 5%, 12%, 18% and 28%. The 5% rate is for essential goods like food items, while the 28% rate is for items like luxury cars and tobacco products. The 18% rate is applicable to most goods and services, while the 12% rate is for items that fall in between.