No tax slab, rate changes; GST Council may take up inverted duty structure

The Goods and Services Tax (GST) Council is unlikely to take up rationalisation of tax slabs or tax rates in its next meeting, scheduled to be held in March. It, however, is likely to address the issue of inverted duty structure in the meeting.


The 15th Finance Commission has recommended a three slab structure for GST. The government has been wanting to merge 12 percent and 18 percent GST slab to a mid-way slab of around 15 percent for long, but has been waiting for revenue to stabilise. 


The Goods and Services Tax (GST) Council is unlikely to take up rationalisation of tax slabs or tax rates in its next meeting, scheduled to be held in March. It, however, is likely to address the issue of inverted duty structure in the meeting. 


The monthly GST collections have now bounced back from COVID lows. In January, GST collection touched an all-time high of Rs 1,20,000 crore, almost four times of COVID low of about Rs 35,000 crore witnessed in the month of May last year.  

Source: https://www.businesstoday.in/current/policy/no-tax-slab-rate-changes-gst-council-may-take-up-inverted-duty-structure-source/story/432023.html

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