India’s indirect tax structure will move towards minimum tax slabs and the Centre will overhaul the existing classification under both goods and services tax (GST) and customs, Central Board of Indirect taxes and Customs (CBIC) chairman Sanjay Kumar Agarwal said on Thursday.
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It is both feasible and prudent to have three tax rate slabs in the GST, he told ET in an interview.
“In my view, three GST slabs is feasible… – a median slab (and) a lower slab for the goods and services for the common person and a higher slab for items used by the affluent class, of course,” Agarwal said. The final decision on the plan will be taken by the GST Council, he added.
Read more at: The Economic Times
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