Finance Minister Arun Jaitley today hinted that there is scope for lesser slabs under the Goods and Services Tax (GST) once there is revenue buoyancy. “We have almost by the day, space and scope for improvement. We have space for improvement and need for improvement to reduce compliance burden as far as small taxpayers are concerned,” he said at an event here.
“We have space for improvement, eventually once we become revenue neutral, to think in terms of bigger reforms such as lesser slabs, but for that we have to become revenue neutral…,” he added.
Currently, GST has four slabs, with rates ranging from 0 to 28 per cent.
More details are awaited.