News

Exclusive: Fitment committee proposes raising GST slab of 5% to 7% and 18% to 20%

Exclusive: Fitment committee proposes raising GST slab of 5% to 7% and 18% to 20%

Goods and Services Tax (GST) fitment committee has proposed raising slab of 5 percent to 7 percent and 18 percent to 20 percent, sources informed CNBC-TV18.
The feasibility of merging 12 percent and 18 percent to one single slab at 17 percent is, however, yet to be examined, sources said.
They are also considering hiking compensation rate from 1 percent to 1.5 percent. The proposed GST on precious metal (gold/silver) will be hiked from 3 percent to 5 percent, sources said.

Top