GST rate of 22% Effective for FMCG Companies

The GST Council, which is in the midst of a three-day meeting, has discussed multiple tax rates under the new tax regime. 

 

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Minimum tax rate of 6 percent and a maximum of 26 percent is under consideration. 22 percent is an effective GST rate for fast moving consumer goods (FMCG) companies. He also said that any sin tax below 40 percent will be beneficial for the industry.