Next Gen GST: Single Tax Slab by 2047?
x
Proposed GST reforms aim for a single tax rate by 2047, slashing rates to 5% & 18%. Aims to boost economy & mitigate tariff threats.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Aug 16 (PTI) Describing the proposed GST tax reforms as Next Gen GST', senior government officials on Saturday said that the two-slab tax regime will eventually pave the way for a single sales/services tax rate, hopefully by 2047.
They said the proposed new GST regime, which slashes tax rates and assigns just two slabs of 5 per cent and 18 per cent, will boost the economy and also serve to mitigate tariff threats.
The proposed two-slab regime, if approved by the GST Council, will replace the current four slabs in the goods and services tax (GST) regime, doing away with the 12 per cent and 28 per cent slabs.
They said the proposed new GST regime, which slashes tax rates and assigns just two slabs of 5 per cent and 18 per cent, will boost the economy and also serve to mitigate tariff threats.
The proposed two-slab regime, if approved by the GST Council, will replace the current four slabs in the goods and services tax (GST) regime, doing away with the 12 per cent and 28 per cent slabs.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Alstone-Textiles
- 0.21 ( -4.55)
- 83530677
- Vodafone-Idea
- 11.08 (+ 2.50)
- 52668310
- Tilak-Ventures-L
- 1.11 ( -19.57)
- 28754637
- Sunshine-Capital
- 0.24 ( 0.00)
- 18546900
- Sylph-Industries
- 0.51 (+ 4.08)
- 18277722
MORE NEWS
© 2026 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback