Centre likely to propose 26% peak rate for GST

Moneycontrol BureauIt 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.