It has been changed for items ranging from chewing gum to chocolates, to beauty products, to wigs and wrist watches. This major revision of tax rate has brought a huge relief to Indian Consumers and Businesses.
Another great boon for the common people is the change that happened to the tax rate of restaurants. The Council has decided to bring all the AC and non-AC restaurants under the tax bracket of 5 percent.
This massive revision was done in the 28 percent slab which will now be imposed only on just 50 items from the earlier 227 items. Most of the items and services taxed at 28% earlier will now attract a tax of 18% only.