Major GST shake-up: 12% and 28% slabs to be axed
The Centre has proposed to reduce the number of slabs under the Goods and Services Tax system, retaining the 5% and 18% slabs, while introducing a lower concessional rate below 1% and a high “sin rate” of 40% on just five to seven items each, according to official sources. This would entail entirely doing away…
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