Working to rationalise GST rates: MoS Finance

<p>New Delhi [India], Jun 8 (ANI): Minister of State (MoS) for Finance Shiv Pratap Shukla said the GST Council is working towards rationalising the Goods and Service Tax (GST) rates.</p><p>Addressing a gathering at the 7th edition of Delhi SME Finance Summit organised by the Confederation of Indian Industry (CII) here, the MoS Finance said a big announcement from the government regarding GST is imminent.</p><p>"The GST Council is working towards rationalising GST rates. An announcement from the government regarding GST is imminent," the MoS Finance said.</p><p>Currently, the GST is divided into four tax slab i.e.- 5 percent, 12 percent, 18 percent and 28 percent.</p><p>Earlier in January, the GST Council, in its meeting, decided to slash the rates on 54 services and 29 items.</p><p>In November 2017 meeting, the GST council had removed 178 items from the highest 28 percent category. (ANI)</p><br/><center><em><p>This story has not been edited. It has been published as provided by ANI</p></em></center>

from business https://ift.tt/2M9FxGb