4.2 Rate Changes at the Subheading Level, July 2017 to March 2019

FIGURE 4.2 Rate Changes at the Subheading Level, July 2017 to March 2019

Source: gST council and Central board of indirect Taxes and Customs. Note: Panel a shows that, of the 5,390 product subheadings, 1,181 faced a rate change, and a majority of the rate changes corresponded to tax cuts of 10 percent and a mean rate change across all periods of around 9 percent (the broken blue line). Panel b shows that many of these tax cuts occurred in November 2017. gST = goods and services tax.

Table 4.3 shows the number of firms and the ranked contribution to total sales by sector of activity whereby the economy has been divided into 15 large sectors. The single largest sector is base metals, which accounts for 41 percent of all sales. The second largest sector is electrical parts and electronics, which covers 11 percent of sales, followed by mineral products at 10 percent.