From phones to air travel, rates could go up as govt revisits GST slabs

The GST Council could reduce the four tax slabs that currently exist – 5%, 12%, 18%, and 28% – to three – 8%, 18%, and 28%.
Government officials said that the move is aimed at increasing tax revenue by raising taxes on products and services used primarily by the well-heeled.
Officials added that the tax rate on branded cereals, mobile phones, pizzas, air travel, fine fabrics, etc. may be increased to boost sagging GST revenues.
The urgency of this move is felt after a sharp fall in GST collections, particularly after July this year.
The cess collection last month was about ~7,720 crore. Therefore, overhauling the rates and streamlining them in a logical manner is a must.

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