Revenue growth for states: 14% projection may push GST rates higher for most items

With the finance ministry officials kicking-off their internal discussions regarding the fitment of goods and services in the multi-tier tax slabs under the proposed Goods and Services Tax (GST), the decision to assume a 14 per cent revenue growth for states during the transition period is turning out to be one of the sticky points. While the government aims to classify most items, especially mass…