Moneycontrol
Oct 18, 2016 10:59 AM IST IST | Source: Moneycontrol.com

Centre likely to propose 26% peak rate for GST

It is likely that the Centre could propose a four-tier tax structure under the Goods and Services Tax. The peak slab could be around 26 percent, reports Business Standard


Moneycontrol Bureau

It is likely that the Centre could propose a four-tier tax structure under the Goods and Services Tax. The peak slab could be around 26 percent, reports Business Standard.

Almost 20-25 percent of taxable goods, including those consumed by the middle class could come under the peak rate.


The GST Council will begin deliberations today to arrive at a consensus on the tax rate, states compensation, among other things.


The states are rooting for a rate of 22 percent, while the rate proposed by a panel headed by Chief Economic Adviser  Arvind Subramanian had recommended a rate of 18 percent.

This will be the third GST Council meet since its corporation in September.


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