Highlights of the Goods and Services Tax Councils decisions:
** Four tax bands between 5 per cent and 28 per cent.
** Two standard rates - 12 per cent and 18 per cent.
** Sevices may turn costly if 18 per cent slab is applied.
** Luxury goods to be taxed at between 40 per cent and 65 per cent.
** White goods/consumer durables to be taxed at 28 per cent.
** States to be compensated for revenue losses through cess route, but with sunset clause of five years.
** Some commodities that would fall under 28 per cent slab may face higher tax than at present.
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