GST Reforms: Group of Ministers accepts 2-slab structure proposal, check details
At present, Goods and Services Tax (GST) has four slabs of 5, 12, 18 and 28 per cent. While food items are either taxed at 0 or 5 per cent, luxury and sin goods are taxed at 28 per cent. New Delhi: The Group of Ministers (GoM) of state ministers on Goods and Services Tax (GST) rate rationalisation has accepted the Centre's proposal to move to a two-slab structure of 5 and 18 per cent. Confirming the decision, Bihar Deputy Chief Minister and convenor of rate rationalisation GoM Samrat Choudhary said the six-member state ministerial panel has also accepted the…