- 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.
Latest Posts in "India"
- Himachal Pradesh Assembly Approves VAT Bill, Permits Up to ₹5 Cess on Petrol, Diesel
- Karnataka AAR Allows ITC on Ancillary Expenses for Used Vehicles Sold Under Margin Scheme
- ISD Credit Distribution Allowed Only After ITC Eligibility Under Section 16, Rules Madras High Court
- Hookah Served in Restaurants Not Restaurant Service, Taxed Separately: West Bengal AAR Rules
- Key Changes in RBI’s FEMA Export and Import Regulations, 2026: Integrated Rules and Reporting Updates
