Jaitley rules out single GST rate but hints at further rate cuts

Says rationalisation of rates in the future depends on revenues

Finance Minister Arun Jaitley on Monday ruled out a single rate for the goods and services tax (GST), adding any further rationalisation of tariffs would be contingent on revenues.

“Those who are speaking of a single rate for the GST have no understanding of the tariff structure. Food items have to be taxed at nil. ‘Common-man items’ have to be taxed at the lowest rate of 5 per cent,” he said.

Congress Vice-President Rahul Gandhi had demanded a single GST rate of up to 18 per cent against the current slabs of 0, 5, 12, 18, and 28 per cent.