Single GST rates in the works, 28% peak slab to be pruned too: Jaitley

A couple of days after cuts in the goods and services tax (GST) rates, Finance Minister and GST Council Chairman Arun Jaitley on Monday raised hopes of further pruning the peak rate (28 per cent) and merging the 12 per cent and 18 per cent slabs. However, the single standard rate would take some time after GST revenues see a “significant” rise, he said, while criticising the Congress for “oppressing the country” with a high indirect tax rate of 31 per cent.

Experts said the standard rate would be crucial in determining if the move would help industry or not.

“The 28