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GST Council to soon take decision on rates, number of slabs: FM Sitharaman
The Daily Guardian
|February 05, 2025
The GST Council will soon take a decision on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday.
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Currently, Goods and Services Tax (GST) is a fourtier tax structure with slabs at 5, 12, 18 and 28 per cent.
Luxury and demerit goods are taxed at the highest bracket of 28 per cent, while packed food and essential items are in the lowest 5 per cent slab.
The Council, chaired by Sitharaman and comprising her state counterparts, has set up a group of ministers (GoM) to suggest changes in GST rates as well as reduce slabs.
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