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GST Council may raise base rate to 10% from 5%, move 243 items to 18% slab

Monday, December 9, 2019, 9:07 PM

To raise additional revenue, the GST Council may raise the base rate to 9-10 percent from five percent, reports The Times of India. The GST Council will reportedly discuss the option of moving 243 items to the 18 percent slab and scrapping the 12 percent slab. If this fructifies, there will be three GST slabs: five percent, 18 percent and 28 percent.
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Tax cuts under consideration, focus on boosting growth, says Nirmala Sitharaman

Sunday, December 8, 2019, 4:07 PM

Finance-Minister Nirmala Sitharaman said that a tax rate cut proposal is "one among the many things we are thinking about to boost growth." Sitharaman made the statement at the Hindustan Times Leadership Summit, where she addressed a gamut of issues. The Finance Minister added that they would listen to learned economists who "are telling us that we have to move towards more fiscal stimulus."
 
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Govt will honour compact to give states their share of GST: Sitharaman

Saturday, December 7, 2019, 11:02 AM

The central government will keep its "compact" to give state their share of the goods and services tax (GST) though the cess collected has been inadequate, said Finance Minister Nirmala Sitharaman on Saturday. Sitharaman's statement comes after Kerala last week threatened to take the central government to the Supreme Court over delay in the payment of compensation to states.

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