Tag: Tax slabs

PM asks BJP MPs to highlight pro-poor aspects of budget

Modi is understood to have specifically asked the MPs to reach out to the middle class and the poorer sections to explain to them how they stand to gain from the new income tax slabs.

February 7, 2023

Indian GST system among most complex globally: World Bank

The Indian Goods and Services Tax (GST) system is among the most complex in the world with not only one of the highest tax rates but also one of the largest number of tax slabs, the World Bank has said. It added that India has the highest standard GST rate in Asia, and second highest...

March 16, 2018

‘Number of slabs in GST will be reduced later’

The number of tax slabs in the Goods and Services Tax (GST)regime would be reduced with improvement in revenue, Union Minister of State for Finance and Corporate Affairs Arjun Ram Meghwal said here on Saturday. With the exempted category, the existing tax slabs are of 5, 12, 18 and 28 per cent. Defending the different...

August 12, 2017

Number of tax slabs should reduce over time, says GST Council official

The number of tax slabs should be reduced to one to two over a period of time, a top Goods and Services Tax (GST) Council official said on Monday. "Over a period of time, our aim should be to reduce the number of tax slabs to 1-2," Arun Goyal, Additional Secretary, GST Council said here...

May 22, 2017