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News GST

  • Dec 08, 2017
  • 12%, 18% GST rates can be merged to new slab

    Bihar Deputy Chief Minister Sushil Modi on Friday said the Goods and Services Tax (GST) Council would examine the possibility of merging the 12 and 18 per cent tax rates to a new slab. Sushil Modi, a member of the GST Council, has also suggested it that price tags displayed on items be inclusive of all taxes. "The GST Council will put an effort to examine the possibility of merging the tax rates of 12 per cent and 18 per cent to a new slab which will be in between the two tax rates. There are about 50 items in the bracket of the 28 per cent tax rate and the number of items can be reduced from the highest rate. "

    Source - https://economictimes.indiatimes.com