GST rate rationalisation: Group of Ministers to provide status update next month, says CBIC Chairman
Three-slab GST rates: Taxation, customs, and excise in India will soon witness a paradigm shift as laws related to these will be reviewed, said Sanjay Kumar Agarwal, Chairman, Central Board of Indirect Taxes and Customs (CBIC).
In an interview with Republic Business, Agarwal said a group of ministers (GoM) which is scrutinising GST rates, will make a presentation of GST rationalisation in the next GST council meeting in August.
Additionally, there is a growing demand to bring petroleum products under GST, which according to Agarwal, would require a graded approach to ensure revenue neutrality. He highlighted the significant tax revenue generated from online gaming, amounting to Rs 1,150 crore per month, marking a four-fold increase. Following are the excerpts.
