Step 1: Understand what GST is. GST stands for Goods and Services Tax, which is a tax applied to the sale of goods and services.
Step 2: Identify what luxury goods are. Luxury goods are items that are not essential and are often expensive, like designer handbags, high-end cars, and jewelry.
Step 3: Learn about GST rates. GST rates can vary based on the type of goods or services.
Step 4: Find out the GST rate for luxury goods. Luxury goods are taxed at the highest GST rate.
Step 5: Confirm the GST rate for luxury goods. The highest GST rate is 28%.
