There will be only three categories of GST Rate : Sushil Modi

There will be only three categories of GST Rate : Sushil Modi : Slabs under Goods and Services Tax (GST) may be reduced to three from five a

CA Deepak Gupta

Jul 23, 2018

Last update on Jul 23, 2018

There will be only three categories of GST Rate : Sushil Modi : Slabs under Goods and Services Tax (GST) may be reduced to three from five at present in coming days for the convenience of consumers and businesses, Bihar Finance Minister Sushil Kumar Modi said. In a recent interview, the Minister confirmed thatthere is an intention of government to reduce GST rates to three slabs but it will take some time. Also as seen in 28th GST council meeting, rates of many commodities were slashed to 18% from 28%. Very few commodities are left now which fall in Slab rate of 28%. Initially the government has planned for only 3 slabs in GST . But 5 Slabs were introduced so as to ensure that states do not face any revenue losses. Now when GST Revenue has become more stable, slabs will be reduced to 3.

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CA Deepak Gupta

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CA Deepak Gupta,is Co-founder of Studycafe. He is Microsoft Office Specialist and Corporate Trainer of AI Tools, Microsoft Excel. He is Finance Influencer having more than 250K followers on Social Media. CA Deepak Gupta, is Having more than 14 plus years of experience, and he has Worked with best brands Like, Hero, Wipro, Ericsson before Starting Studycafe. He has Trained more than 20000 Persons in Microsoft Excel, PowerPoint, Power BI, Google Sheet, Google Forms and Other Tools.