Moneycontrol PRO
you are here: HomeNewsBusiness

Inflationary concerns may delay GST rate rationalisation: Report

Elevated inflation is likely to delay, a GST tax rate rationalization, sources said.

May 25, 2022 / 07:41 PM IST
Representative image

Representative image

A GST tax rate rationalization is likely to be delayed due to elevated inflation, sources said on Wednesday. The Goods and Services Tax (GST) regime taxes goods and services in four tax slabs of five per cent, 12 per cent, 18 per cent and 28 per cent. It was being considered to reduce these tax slabs possibly to three percent, an exercise which would have involved raising taxes in some items and a reduction in others.

But with inflation rate ruling at all-time high, such an exercise is likely to be delayed, sources said.
first published: May 25, 2022 07:37 pm
ISO 27001 - BSI Assurance Mark