GST Council to soon decide on rates, slabs: FM

PTI

New Delhi, Updated At : 12:00 PM Feb 05, 2025 IST

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The GST Council will soon take a decision on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday.

Currently, Goods and Services Tax (GST) is a four-tier tax structure with slabs at 5, 12, 18 and 28 per cent. The Council has set up a group of ministers (GoM) to suggest changes in GST rates as well as reduce slabs. Days after presenting the Budget, the minister asserted the country’s economic fundamentals are strong and there is no structural slowdown.

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