GST Anniversary: Prior to GST imposition, India had one of the most complicated tax systems, says Arun Jaitley
Union Cabinet Minister Arun Jaitley joined the GST Celebrations being held at Dr Ambedkar International Centre in New Delhi through live video conferencing. Earlier today, the minister also said the idea of a single tax slab in GST is flawed. The current GST structure has four tax slabs - nil, 5%, 18% and 28% at which goods and services at taxed. The minister said the Singapore model of the GST, in which all goods and services are taxed at a uniform rate of 7%, cannot work in India. Jaitley also recognised key areas which the GST Council will have to address in the future, including simplification and rationalisation of the rate structure and bringing more products into the GST.