Centre Proposes Fewer GST Rates: only 5% & 18% to Remain, Tax on Common-Use Items Slashed

Centre proposes fewer GST rates: only 5% & 18% to remain, tax on common-use items slashed

Centre proposes GST reforms to reduce slabs, simplify rates, and promote ease of living with technology-driven processes.

Centre proposes 5 and 18% rates under revamped GST regime: Sources

Officials said that the Centre has proposed to move almost all the items in the 28 percent slab, barring sin goods, to 18 percent slab; and move 99 percent of items in the 12 percent slab to 5 percent.

Most goods, services under GST to be in 5 per cent and 18 per cent slab

There will be two main slabs of 5 per cent and 18 per cent, with hardly five to seven items like tobacco, pan masala etc. falling under the sin good category.

Centre proposes scrapping 12% and 28% in GST structure, most items to move to 5%, 18% rates: Government sources - The Tribune

In a path-breaking initiative relating to the Goods and Services Tax structure, the Central Government has proposed to scrap the current slab of 12 per cent and 28 per cent of GST rates and keep only 5 per cent and 18 per cent GST rates, government sources said on Friday.

Centre Proposes Reducing GST Slabs From 4 To 2, May Retain 5%, 18%: Sources

The Centre has proposed that only two slabs for Goods and Services Tax (GST) be retained - 5 per cent and 18 percent - as per sources.

Centre proposes 5%, 18% GST slabs

Special 40% tax on luxury and sin goods on cards New Delhi: The central government has proposed two tax rates of 5 per cent and 18 per cent in the revamped goods and services tax (GST), slated to replace the current indirect tax regime by Diwali this year, highly placed sources said. The Centre has sent its proposal, which removes 12 per cent and 28 per cent slabs, to the panel of state finance ministers on GST rate rationalisation. They will no…