GST cuts likely soon, rationalising of rates possible: FM Nirmala Sitharaman in Rajya Sabha

Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday that a reduction in goods and services tax (GST) can be expected. She stated that the GST Council is currently working on streamlining the rate slabs for Goods and Services Tax. Additionally, the finance minister highlighted that there has been a significant decrease in GST rates, decreasing from 15.8% in the previous tax syst…