GST rate rationalisation, simplification in the works; discussion between Centre, states underway

The ministerial panel formed under GST to oversee rate rationalisation is learnt to have held threadbare discussions on the items in each of the key slabs — zero, 5 per cent, 12 per cent, 18 per cent and 28 per cent — and whether the items need to be moved to a higher or lower slab. But, even after the detailed exercise, the 12 per cent GST slab was proposed to be retained by the panel, along with…