GST Reforms., GST Rate Change: The GoM of state ministers on GST rate rationalisation on Thursday (August 21) accepted the Centre's proposal to move to a two-slab
structure of 5 and 18 per cent. At present, Goods and Services Tax is a 4-tier structure of 5, 12, 18 and 28 per cent.
Bihar Deputy Chief Minister and convenor of rate rationalisation GoM Samrat Choudhary said the six-member state ministerial panel has also accepted the proposal of removing the 12 and 28 per cent slabs.
"Both the proposals of the Centre have been accepted by the GoM on rate rationalisation," Choudhary told reporters after the meeting of the panel.
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