The details on GST rate hike will be clear in upcoming time. The lower rates could be hiked to 6% and 13% from the current 5% and 12% and it also made to the sources that the GST rates would be finally merged in a lesser slab. The finance minister nirmala sitharaman and its panel of minister are likely to discuss on the complete redesigning of four slab tax GST rates under the regime as per the sources. Various states and industries support a decrease in GST tax rate for different items which are taken into the discussion in the council meetings.
The GST Council meeting is conducted regularly in order to further improve the overall GST rates for multiple goods. GST is the most important tax-related reformation in the country beginning unity in the taxation structure and reducing the various types of taxes that were applicable in the previous regime. Revised GST Slabs in India for FY 2022-23
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