Min panel on GST reviews rates of several categories

New Delhi: The group of ministers (GoM) on GST rate rationalisation may have deferred a plan to rework slabs but it is undertaking a thorough review of rates across several categories, including items in the 12% and 18% brackets and will take a call on several products and services towards Sept-end.

Apart from sectors, such as health insurance and restaurants, where industry has represented, there could be some food products too, where the branded and packed goods and unpacked ones have different rates, sources familiar with the deliberations told TOI.

While a large number of items are in the 12% bracket, there is not much revenue coming from the slab. In contrast, 73% of the taxes come from the 18% bracket, said sources. A reduction of even three percentage points in the slab could have shaved off a significant amount of revenue, the source explained.

Source : https://timesofindia.indiatimes.com/city/delhi/gst-rate-review-by-gom/articleshow/112818904.cms