Diabytes
GST tax slabs News
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CEA said that over time, the 12 percent and 18 percent rate can probably be collapsed into one rate.
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The Goods and Services Tax (GST) Council on Friday decided to slash tax slabs for 178 items from 28 percent to 18 percent.
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Concept of GST is not new to the world as nearly 160 countries up till now, have opted this mode for bringing individually tax rates into a single tax.
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Defending the different slabs, he said the central government was trying to introduce the new tax system with the consent of states and did not want to impose it.
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Finance minister Arun Jaitley is likely to limit the tax rate on services at 12 and and 18 percent.
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