Big GST Revamp: 12%, 28% slabs to be scrapped; GoM accepts Centre's proposal
Published on 21/08/2025 02:35 PM
Finance Minister Nirmala Sitharaman on Wednesday (August 20) gave state-level Group of Ministers (GoM) an overview of her government's intentions for comprehensive GST changes, which include lowering tax rates and reducing the burden of compliance for companies.
Today (August 21), the GoMs accepted the government's proposal and approved the GST revamp plan with slabs of 5 per cent, 18 per cent, and 40 per cent, Bihar Deputy Chief Minister Samrat Choudhary said on Wednesday. This means 12 per cent and 28 per cent GST slabs will be removed.
Currently, the GST is levied at 5, 12, 18, and 28 per cent.
The new 40 per cent slab was proposed on 5-7 items. This includes sin goods.
This is a developing story; more details will be added soon.
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