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The Group of Ministers (GoM) on GST rate rationalisation is expected to recommend a significant overhaul of the current GST structure, including proposals to eliminate the 12% and 28% tax slabs, according to sources. The move aims to simplify the tax regime and bring about a comprehensive item-wise rate revision across multiple sectors.GoM on rate rationalisation | The Group of Ministers on rate rationalisation is likely to table the Centre’s proposal to remove the 12% and 28% GST slabs, accompanied by a large-scale item-rate rejig.Fertiliser stocks | As per the proposal, GST on fertiliser acids and bio-pesticides may be reduced to 5% from the current 18% and 12%, directly benefiting agrochemical players such as UPL Ltd, PI Industries and Rallis India.Renewables stocks | In the renewables space, items like solar cookers, solar water systems, energy devices and related parts are proposed to be cut from 12% to 5%, which could support Adani Green Energy, KPI Green Energy, Sterling & Wilson Renewable Energy and Tata Power.Textile and Apparel stocks | The textile sector may see a boost as synthetic or artificial filament yarns, sewing threads, manmade staple fibre yarns, felt, gimped yarn, metalised yarn, rubber thread, carpets and gauze are proposed to be slashed from 12% to 5%. For apparel, the government may propose hiking the limit for garments attracting 5% GST from ₹1,000 to ₹2,500, while apparel above ₹2,500 could move to 18% from 12%. Likely beneficiaries include V-mart, Vishal Mega Mart, Vardhman Textiles, Arvind Ltd, Raymond Ltd, Page Industries and Welspun India.Footwear stocks | In footwear, items above ₹2,500 may be hiked from 12% to 18%, while those below ₹2,500 could drop from 12% to 5%, a move relevant for Bata India, Relaxo Footwears and Campus Activewear.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.