Quick Summary
India is not planning any major rationalisation to rates under its goods and services tax (GST) regime and is also not considering any convergence of the slabs as of now, revenue secretary Sanjay Malhotra has said. Rationalisation of rates a continuing exercise but most of the work has already be
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FAQ :
No, the Revenue Secretary has stated that there are no plans for major rationalisation of GST rates or convergence of slabs at the moment.
The Revenue Secretary mentioned that GST rate rationalisation is a continuing exercise and most of the work has already been done. Apart from smaller changes, no major agenda concerning GST rates is planned for now.
According to the Revenue Secretary, the convergence of GST slabs is not on the agenda for the moment.
The effective GST rate is currently 11.5 percent, which is below the initially estimated revenue-neutral rate of about 15.4 percent.
GST collections have shown good buoyancy, with January's collection reaching Rs 1.56 lakh crore. Collections have exceeded the Rs 1.4-lakh crore mark for 11 consecutive months.
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