Tax board weighs GST slabs rejig, revenue impact

The Central Board of Indirect Taxes & Customs (CBIC) is currently undertaking an exercise to assess the feasibility of the Goods and Services Tax (GST) slab rejig, by merging 12% and 18% rates. Revenue implications of three different scenarios – combining these two rates to a single rate of 14% or 15% or 16%– are being studied, the sources said. The CBIC’s inputs will likely…