GST council might consider raising the lowest slab to 8%

GST council is considering to raise the lowest GST tax slab from 5% to 8%. The council is also planning to reduce the exemption list under GST in order to increase revenues in various aspects. It believes that the state’s dependence on the centre for compensation can be removed by doing so.

A panel consisting of finance ministers from various states will submit their reports. These reports will include suggestions on how to increase the revenues of the state and their views on increasing the lowest tax slab.