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5% GST slab may be increased to 6% : report

Dec 06, 2019 11:36 IST

The panel for shoring up what has been a slow goods and services tax collection, could be examining slab restructuring. Part of the changes may include increasing the 5 per cent rate to 6 per cent to begin with — a move that can result in additional revenues of Rs 1,000 crore per month. The 5 per cent slab covers essential commodities like basic clothing, footwear, and food items. The panel is also looking at bringing under GST, items like foodgrains that faced either value-added tax or purchase tax.