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GST Tax Slabs Could be Reduced to 3 from Current 4
September 05, 2017
Finance Minister Arun Jaitley said that the Goods and Services Tax (GST) Council may consider merging the two tax slabs 12% and 18% into one once the customers and businesses have become comfortable with the new taxation regime.
Jaitley, who was present at the India summit organized by The Economist, said that if the GST transition goes smoothly and compliance remains high, it’s possible that the GST council may take appropriate action on the current GST slabs depending on the regime’s impact on inflation.
