As per the recent tweet of CNBC-TV18, sources say an overhaul of GST rates unlikely in upcoming GST Council meeting.
- An overhaul of GST rates unlikely in upcoming GST Council meeting
- Govt wants to wait for revenues to stabilize before a move to a 3-slab structure
- Govt would like to first correct the inverted duty structure before proposing merger of slabs
- Govt would not like to make any changes in the items under 18% & 28% slab
GST Council sources: “15th Finance Commission in its report has proposed to move to a 3 slab structure but any movement towards this would be keeping in mind political sensitivity that is upcoming state elections and the possible pressure it could have on inflation. Economy is still recovering from Covid and GST Council would refrain from changing any rates at this juncture.”