NEW DELHI (Reuters) - A council of India's federal and state governments on Thursday approved four main tax slabs ranging from 5 to 28 percent under a proposed Goods and Services Tax (GST), Finance Minister Arun Jaitley told reporters.
While there will be two standard tax rates - 12 percent and 18 percent - under the GST, half of the items in the consumer price index would not be taxed at all to safeguard the interests of the poor, Jaitley said.
(Reporting by Manoj Kumar; Writing by Rajesh Kumar Singh; Editing by Douglas Busvine)
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