Arun Jaitley is saying a future road map is going to work at a single GST rate


India is working towards a single national sales tax rate that could be 12-18 percent, Finance Minister Arun Jaitley said on Monday, with a view to simplifying the tax structure.

The government set the rate from 28 to 5 hundred for the goods and services tax on most products when the redesign of the signature was adopted last year.

"Several slabs were periodically set to ensure that no product tax rises dramatically. This included the impact of inflation," Jaitley wrote in his blog.

"A potential plan could well be a single standard rate rather than two standard rates of 12 and 18 percent. The tax may be a mid-point between the two." He said that the country would look for none, five percent dollars and a standard rate for pleasure and vice (alcohol, tobacco, cigarettes ...).

The government will also see the next priority of transferring cement to a lower tax burden.

Comments

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    Great!! for every company based in India as well as the whole Delhi. You may continue writing for GST Registration.

    ReplyDelete

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