GST To Lower Tax Burden On Medical Devices, Smartphones: Finance Ministry

New Delhi: The Goods and Services Tax (GST) will lead to lower tax burden in several commodities, including packaged cement, medicaments, smartphones and medical devices, the Finance Ministry said on Tuesday. "Packaged cement attracts central excise duty of 12.5 per cent plus Rs 125 PMT (per metric tonne) and standard VAT (value-added tax) rate of 14.5 per cent. At these rates, the present total tax incidence works out to more than ...