Bring in three-rate GST structure, says study by Finance Ministry-backed think-tank
The Hindu
National Institute of Public Finance and Policy study says Government can rationalise the rates without losing revenues.
The Government can rationalise the GST rate structure without losing revenues by rejigging the four major rates of 5%, 12%, 18% and 28% with a three-rate framework of 8%, 15% and 30%, as per a National Institute of Public Finance and Policy (NIPFP) study.
The findings of the NIPFP, an autonomous think tank backed by the Finance Ministry, assume significance as the GST Council has tasked a Group of Ministers, headed by Karnataka CM Basavaraj S. Bommai, and a possible merger of different tax slabs by December to shore up revenues.
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