Sitharaman says GST rates to be reduced further, rationalised

Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.

- AGENCIES

Mrs Sitharaman said that the revenue neutral rate (RNR), which was 15.8 per cent when GST was introduced in July 2017, has now come down to 11.4 per cent in 2023 and will decrease further.

Speaking at a media event in the national capital, Mrs Sitharaman said that the work on simplifying GST slabs is almost finished. The GST Council, which is led by the Finance Minister and includes state finance ministers, is expected to take a final decision soon.