GST Council may look to rationalise 28% slab; taxes on cement may be cut
In the first eight months (April-November) of the current fiscal, the government has mopped up over Rs 7.76 lakh crore from GST. The 2018-19 budget had estimated annual GST collection at Rs 13.48 lakh crore, which means a monthly target of Rs 1.12 lakh crore.
There were around 226 goods in the 28 per cent category, when the Goods and Services Tax (GST) was implemented on July 1, 2017. Image source: Reuters