Centre moots two-rate GST system as part of PM Modi’s ‘Diwali gift’
Prime Minister Narendra Modi’s “Diwali gift” to the people of India, of reforms to the Goods and Services Tax (GST) system, will likely be across three pillars — structural reforms, rate rationalisation, and ease of living — and could entail a shift to a two-rate GST system from the current five-rate system.