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GST Revenue Neutral Rate To Be around 18 Percentage

by Suma

GST Revenue Neutral Rate To Be around 18 Percentage

It is being claimed by various sources that a report on GST Revenue Neutral Rate (RNR) can be finalised by this week. The committee constituted by Ministry of Finance (MOF) may report a RNR rate around 18 % .

It is pertinent to note that the said committee is being headed by Chief Economic Advisor (CEA) i.e Mr Arvind Subramanian.

The fate of GST rate shall be purely dependent on such declared RNR.

The following aspects shall be suggested by the committee:

1. Concessional & Lower GST Rates

Essential goods and services & precious metals may be included

2. Standard GST rates

Maximum products and services to fall under this rate.

3. Higher GST Rates

Cigarettes, luxury cars and beverages may attract higher GST rate.

GST Revenue Neutral Rate To Be around 18 Percentage

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