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GST rate revision: Surplus may be used to pay states
Hindustan Times Mumbai
|September 03, 2025
THE TWO-DAY GST COUNCIL MEETING WILL CONSIDER ELIMINATING 2 OUT OF 4 TAX SLABS (12% AND 28%) AND RETAIN THE 5% AND 18% RATES WITH A SLAB OF 40% FOR LUXURY GOODS
The Goods and Services Tax (GST) Council may consider compensating states for their immediate revenue losses on account of a proposed GST rate rationalisation — tapping an estimated surplus of ₹40,500 crore in the compensation fund for this purpose, people familiar with the matter said.
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