India Panel Said to Consider Increasing GST Rates, Mint Says

Nov. 24, 2021, 2:46 AM

A panel of state finance ministers will consider restructuring India’s goods and services tax slabs to raise an extra 3 trillion rupees ($40 billion) in revenues annually, the Mint newspaper said citing people it didn’t identify.

  • The panel, which was set up by the GST Council -- headed by the federal finance minister -- to look into rationalization of tax rates, will meet Nov. 27
  • It will examine a proposal by a committee of officials to increase the 5% slab to 7% and the 18% slab to 20%
  • NOTE: India’s Oct. Gross GST Revenue Jumps 24% Y/y at 1.3T Rupees ...

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