On rationalizing GST rates, question is to converge now or later

An issue that has been dogging Goods and Services Tax (GST) since its very inception has been the multiplicity of tax rates. There are as many 6 slabs. 0 percent, 0.25 percent for semi-precious stones/diamonds, 3 percent for gold/silver, and 5 percent, 12 percent, 18 percent and 28 percent for the other range of goods and services. Tax administrators would have ideally wanted just three rates — a…