Scope for further rationalisation of GST rates: Jaitley

The GST Council slashed tax rates of 200 items in its Friday meeting.

The GST Council slashed tax rates of 200 items in its Friday meeting. 
 
However, it may further rationalise the indirect tax, depending on revenue buoyancy, said Finance Minister Arun Jaitley.
 
The opposition parties linked rate cuts on about 200 items to the forthcoming Gujarat elections. 
 
Jaitley countered them and said it was “juvenile politics” to link the reduction in rates to the state assembly polls.
 
“There is obviously scope for rationalisation of rates. In four months, we have rationalised the 28 per cent slab,” he was quoted as saying.
 
The Government of India rolled out GST law on July 1.
 
Since then, GST Council has been met every month to weed out complications in the law. 
 
Jaitley, who chairs the GST Council, said the body has been pragmatic and not rigid.
 
Source: ET

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