GST council reviews rates, items to raise revenue

The government has begun discussions with states for a possible revamp of the goods and services tax as part of an exercise to shore up revenue. The move comes at a time when tax collections have been hit, which authorities believe is due to a massive reduction in rates. The RBI had recently estimated that the effective GST rate in India has come down from 14.4% in May 2017 to 11.6% now.

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