GST council finalises tax on services; exempts education, healthcare

The all-powerful GST Council today finalised tax rates for services under the Goods and Service Tax (GST) regime, scheduled to kick-in from July 1.

Healthcare and education would be exempt from GST.

Kerala Finance Minister Thomas Issac said there will be four rates for services at 5, 12, 18 and 28 per cent, similar to tax slabs for goods.

The tax rate on gold has not been finalised yet, he said, adding that the Council will meet again on June 3.