Centre's plan on GST rate rationalisation - GST OVERHAUL:

Centre has suggested replacing multiple tax slabs - 5%,12%,18% and 28% with broad two slab structure of 5% and 18% - in addition to 40% special rate on sin and demerit goods.

Concerns:
- whether there will be any institutional mechanism to compensate states for revenue loss.
-whether the benefits from GST rate cuts will percolate to the common person.

The observations of the state will be referred to the GST Council.

#GST #Overhaul