Various GST Tax Slabs in India 2020. In India, there are 4 types of GST rates: GST Tax Slab of 5%. Under this slab, the goods of basic amenities are covered such as sugar, oil, spices, coffee, coal, fertilizers, tea, ayurvedic medicines, agarbatti, sliced dry mango, cashew nuts, sweets, handmade carpets, lifeboats, fish fillet, unbranded namkeen, and life-saving drugs are covered. MINIMUM ALTERNATE TAX (MAT) In India, in the case of companies, if the tax payable on their taxable income for any assessment year is less than 18.54% of their ‘book profit’(if book profit does not exceed Rs 10 m),or 19.9305% of book profit (if book profit exceeds Rs 10 m), an amount equal to 18.54% of the book profit (if book profit does not exceed Rs 10 m) or 19.9305% of book profit (if Corporate Tax Rate in India averaged 34.11 percent from 1997 until 2020, reaching an all time high of 38.95 percent in 2001 and a record low of 25.17 percent in 2019. This page provides - India Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.