New Delhi : The number of goods in the highest 28 per cent GST slab would be brought down and a committee of officers will calculate the revenue impact before going in for further reduction in tax rates, Revenue Secretary Hasmukh Adhia said Monday.
“It is required, the fitment of rates which has happened is mainly based on excise and VAT,” he said when asked if the GST Council is considering pruning of the number of items in 28 per cent tax bracket. Goods and Services Tax (GST), rolled out from July 1, has subsumed over two dozen taxes and has transformed India into a single market for seamless flow of goods and services. All goods and services have been fitted in the four-tier GST rate structure of 5, 12, 18 and 28 per cent.
Adhia said while fitting the goods and services in various tax bracket, the GST Council has taken into consideration only the excise duty and VAT rate applicable on those items prior to GST.
