India to reduce GST slabs | 2017-08-14 |

India to reduce GST slabs

    13th August, 2017 11:22:09 printer

Kolkata: The number of tax slabs in the Goods and Services Tax (GST)regime would be reduced with an improvement in revenue, Union Minister of State for Finance and Corporate Affairs Arjun Ram Meghwal said here on Saturday.


With the exempted category, the existing tax slabs are of 5, 12, 18 and 28 per cent. 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, reports The Gulf News.

“The centre could have taken decisions in the GST council on the basis of majority but that was not done,” the minister said at an interactive session organised by the Indian Chamber of Commerce.

Meghwal also said as many as 1.32 million new dealers have registered themselves in the system after the implementation of GST, of which 56,000 are from West Bengal, the highest in India.