Rate of tax

(1) The rate of GST applicable to a taxable supply or importation isSchedule I. Schedule II. Schedule III. (a) if the supply or import is zero-rated under Schedule I, Schedule II or Schedule III, 0%; or (b) in any other case, 12.5%. (2) The rate of tax specified in sub-section (1)(b) of this section may from time to time be varied by the Minister by Order published in the Gazette and every such Order shall be subject to negative resolution.