India News | Inflationary Concerns May Delay GST Rate Rationalisation: Sources
Get latest articles and stories on India at LatestLY. A GST tax rate rationalisation is likely to be delayed due to elevated inflation, sources said on Wednesday.
New Delhi, May 25 (PTI) A GST tax rate rationalisation is likely to be delayed due to elevated inflation, sources said on Wednesday.
The Goods and Services Tax (GST) regime taxes goods and services in four tax slabs of 5 per cent, 12 per cent, 18 per cent and 28 per cent. It was being considered to reduce these tax slabs possibly to 3, an exercise which would have involved raising taxes in some items and a reduction in others.
But with inflation rate ruling at all-time high, such an exercise is likely to be delayed, sources said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)