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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…
Read More “Major GST shake-up: 12% and 28% slabs to be axed” »
Representational image only. | Photo Credit: Getty Images/iStockphoto Prime Minister Narendra Modi’s “Diwali gift” to the people of India, of reforms to the Goods and Services Tax (GST) system, will likely be across three pillars — structural reforms, rate rationalisation, and ease of living — and could entail a shift to a two-rate GST system…
Read More “Centre moots two-rate GST system as part of PM Modi’s ‘Diwali gift’” »