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Finance Ministry backs three-rate GST structure

  Dec 27, 2021

Finance Ministry backs three-rate GST structure

Q What is the context  ?

A The Government can rationalize the GST rate structure without losing revenues by rejigging the four major rates of 5%, 12%, 18% and 28% with a three-rate framework of 8%, 15% and 30%, as per a National Institute of Public Finance and Policy (NIPFP) study.

Q How many GST Slabs are there at present ?

Q What is need to harmonize GST slabs?

Q What can be Way Forward ?