Panel finalises four rates for GST - Arun Jaitley

Panel finalises four rates for GST - Arun Jaitley
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Highlights

A council of India\'s union and state governments on Thursday approved four main tax slabs ranging from 5 to 28 percent under a proposed Goods and Services Tax (GST),

A council of India's union and state governments on Thursday approved four main tax slabs ranging from 5 to 28 percent under a proposed Goods and Services Tax (GST), Finance Minister Arun Jaitley told reporters.

While there will be two standard tax rates - 12 percent and 18 percent - under the GST, half of the items in the consumer price index would not be taxed at all to safeguard the interests of the poor, Jaitley said.

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