GST To Be Simplified: Only 5% & 18% Slabs May Remain
The Union Cabinet has approved a proposal to revise GST slabs, with a final decision expected in next month's GST Council meeting. The 12% and 28% slabs will be removed, retaining only 5% and 18% rates. This move, aimed at simplifying taxation, may lower prices of automobiles and essential commodities across the country.