According to the GST rate reforms recommended by the 56th GST Council meeting in 2025, which two are the main GST rates?
Options
- A. 5% and 18%
- B. 12% and 28%
- C. 8% and 20%
- D. More than one of the above
- E. None of the above
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Quiz Practice:
Correct Answer (Detailed Explanation is Below)
A. 5% and 18%
Detailed Explanation
- Correct Answer: 5% and 18%.
- 56th GST Council: Recommended Next-Generation GST rate reforms in 2025.
- Main Rates: 5% and 18%.
- Special Rate: 40% for selected goods and services.
- GST Council: Continued further process reforms at its 57th meeting in October 2026.
- Exam Point: Remember the distinction between the two main rates (5%, 18%) and the special 40% rate.
- Note: These are the rates under the Next-Generation reform structure, not the original GST rate structure.