GST simplification is a continuous process

Simplification of GST rules is an ongoing process and lesser tax slabs will emerge in the long term, Sanjeev Sanyal, Principal Economic Adviser, Union Finance Ministry, has said.

According to him, there could be three major slabs which include a “low 5 per cent”, a 15 per cent slab covering most goods and services, and finally another with a rate of 25 per cent. Apart from these, there will be items included under a zero tax rate or exempted list, under GST.