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SHIFT TO PRICE-BASED GST STRUCTURE A BOON FOR THE COMMON MAN
The Morning Standard
|October 22, 2024
IN its recent meeting in New Delhi, the group of ministers (GOM) on GST rate rationalisation has recommended tax slabs based on the pricing of products, with more expensive goods and services of the same sort attracting higher tax rates.
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This is not completely new for the GST regime there are already product categories where the rates are based on maximum retail prices.
But the latest recommendations seem to be a major shift towards a price-based tax structure.
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