GST revision only once in 3 months among key recommendations to GST Council

The review of GST rates once every 3 months, a convergence of tax rates to 12% and 18% — are among the new recommendations to the GST Council through a new "approach paper" prepared by the Fitment committee. The new approach paper suggests fewer chances of rates revision in the next three months as in the past three Fitment committee meetings, a huge number of items have gone through rate cha…