A four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all-powerful GST Council on Thursday.

Announcing the decisions arrived at the first day of the two-day GST Council meeting, Finance Minister Arun Jaitley said highest tax slab will be applicable to items which are currently taxed at 30-31% (excise duty plus VAT).

Source: b'A file photo of Arun Jaitley | Source: PTI'

Here is what it would mean:

Source: b'A file photo of\xc2\xa0Arun Jaitley (right) with Chief Economic Advisor Arvind Subramanian | Source: PTI'