- Assessment has begun to make GST rates more balanced and avoid inverted duty structure
- Industry wants rationalization of rates, merging of slabs, but govt is not rushing into it
- Possible merging of 12% and 18% slabs into a new 15-16% rate
- Govt wants to avoid being accused of being anti-consumer and ensure revenue neutrality
- Internal assessment being done to see impact of rate changes on revenue flow
Source: msn.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
