GST was introduced in India this year. Many say it is beneficial for the public. However, many stated it as just another way of hiking the prices. Moreover, it is the variable rates and the dual nature CGST and SGST that are causing worries among the public. Hence, today we have brought you GST rates all across the world.
GST was welcomed in Australia in 2000 and it was stated as 10% on the items.
The value added taxes on the products is 20% in Ukraine but for the medicines it is 7%.
3. New Zealand
New Zealand follows the one nation one tax rule and the GST is 15% there which was increased in 2010. Before 2010, the tax rate was 10%.
Likewise India, France has no fixed GST rates. It depends on the luxuriousness of the item and the taxes can be 2,01%, 5.5%, 10% or 20%.
GST was implemented quite late (2015) in Malaysia. Till then it is 6% on all the things.
6. United Kingdom
The VAT rates in UK are constant. 20% rates were fixed in 2011.
Vietnam is one of the countries where Goods and Service taxes are not implemented but there is VAT (Value Added Taxes) which play the roles of Goods and Service taxes. Here the VAT is 0%, 5% and 10%.
The standard rate is 5% in Canada. However, for extremely luxurious products the rate is 15%.
It was introduced in 1994 in Singapore and it used to be 3% at that time. However, it hiked to 7% in 2007.
What are the rates in your country? Share in the comments.