18% slab to contribute lion's share in revenues

Centre's GST revamp reaffirms 18% slab as key contributor in new structure

- 

The 18 per cent tax slab is expected to remain a major contributor to GST revenues if the Centre's proposal for a two-tier GST structure and a special 40 per cent rate is implemented, according to a source.

At present, the Goods and Services Tax (GST) follows a four-tier structure with rates of 5 per cent, 12, 18, and 28 per cent. Food and essential items are either exempt or taxed at 5 per cent, while luxury and sin goods attract the highest rate of 28 per cent.