Why there is an urgent need to rationalise both GST slabs and rates

Rationalisation of the tax structure is expected to be discussed in the GST Council meet on Sep 9. The group of state ministers would be well advised to initiate the process

A group of state ministers working on potential changes to the goods and services tax (GST) system has indicated that, for now, they (the ministers) plan to retain the current four-rate structure. Even though discussions are on and no decision has been taken yet, some members of the group have reasoned that since the GST system has stabilised, it may not be a good idea to disturb it. However, there are strong reasons why the group must contemplate ways to simplify the GST structure. Union Finance Minister Nirmala Sitharaman, who chairs the GST Council, noted