Welcome reform

A single standard GST rate will be just what the doctor ordered

Finance Minister Arun Jaitley hinted on Monday the government could look at merging the 12 per cent and 18 per cent slabs in the goods and services tax (GST) structure, thereby signalling that the Centre and states were a step closer to the ideal of a single standard GST rate. This came after the GST Council’s decision on Saturday to reduce taxes on 23 items. The decision to push a number goods and services to a lower category of tax slabs means the peak rate of 28 per cent is on its way to being rendered almost irrelevant. Mr Jaitley