The goods and services tax (GST) rate rationalisation is likely to be delayed due to elevated inflation
EconomyPress Trust of IndiaUpdated: May 25, 2022 7:26 pm IST
GST rate rationalisation may be delayed due to high inflation
New Delhi:
The goods and services tax (GST) rate rationalisation is likely to be delayed due to elevated inflation, sources said on Wednesday.
The GST regime taxes goods and services in four tax slabs of 5 per cent, 12 per cent, 18 per cent and 28 per cent. It was being considered to reduce these tax slabs possibly to 3, an exercise which would have involved raising taxes in some items and a reduction in others.
But with inflation rate ruling at all-time high, such an exercise is likely to be delayed, sources said.