Tax Slabs Merger

The Centre is eyeing to merge the 12% and 18% GST tax slabs into one. Initially demanded by states and later backed by the Fifteenth Finance Commission, the matter is likely to be discussed by the GST council in its March meeting. Currently having four GST rates, and special rates on precious stones and metals, the Finance Ministry has been looking to make a three-rate structure of a merit rate, standard rate and demerit rate.