Ahead of the GST Council Meet on December 18 market experts spooked on the implications of GST Tax Slabs, and shared their viewpoints in an interview to the CNBC TV 18.Sources are suggesting that the Government is likely to increase GST tax rates in order to increase its revenue collections.
Is it the right time to increase GST Tax Slabs?.
Q: The received wisdom from economy says that 5 and 12 per cent are only contributing about 10 or 20% of GST.
If resource mobilisation is a goal should we worry 18% category could be touched or could be hiked?On this, the expert said we could notice the divided views.
Some were expecting at least 22 per cent.
You have real estate, transportation, restaurants, fertilizers, medicines and so many items can it be increased to 8% that’s an issue for each product, category, each industry will have to look at.However, saying that these are the 20 products that deserve to be tax at a higher rate.