GST rejig: Group of Ministers accepts Centre's rate rationalisation proposal to scrap 12% and 28% slabs

The six-member Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation has accepted the Centre's proposal to scrap 12 per cent and 28 per cent slabs, and consolidate the tax into two slabs of 5 per cent and 18 per cent, Bihar Deputy Chief Minister Samrat Choudhary told the media on August 21.