Hinting at further rationalisation in the goods and services tax (GST) structure, the minister of state (MoS) finance Shiv Pratap Shukla said that the government may come up with an announcement soon, ANI reported.
He was speaking at the Delhi SME Finance Summit organised by the Confederation of Indian Industry (CII).
Various industry bodies including the CII have asked the government to rationalsie the GST structure and cut down the number of slabs
Finance minister Arun Jaitley, in January, had said that the GST has stabilised in a very short time and it provides an opportunity to widen the tax base further.
The GST Council had, last year in November, overhauled the GST structure and included 178 items under the 18 per cent tax slab leaving the highest tax slab of 28 per cent only for sin good and white goods.
Currently, the GST has four slabs – 5 per cent, 12 per cent, 18 per cent and 28 per cent.