Two-day GST Summit in Goa: GoM to review tax rates for 100+ products

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Two-day GST Summit in Goa: GoM to review tax rates for 100+ products - Business Standard

Quick Summary:

Essential items are either exempt or taxed at the lowest slab, while luxury and demerit goods are subject to the highest slab.

Although there have been discussions about merging the 12 per cent and 18 per cent tax slabs, no proposals have been made thus far.

The proposals from the panel will serve as the foundation for a report to be presented at the 55th Goods and Services Tax (GST) Council meeting in November.