Union Minister of State for Finance and Corporate Affairs Arjun Ram Meghwal today said that the number of tax slabs in the Goods and Services Tax (GST) regime would be reduced with improvement in revenue.
Defending the different slabs, he said the central government was trying to introduce the new tax system with the consent of states and did not want to impose it. With the exempted category, the existing tax slabs are of 5, 12, 18 and 28 per cent.
"The Centre could have taken decisions in the GST council on the basis of majority but that was not done," the Minister said at an interactive session organised by Indian Chamber of Commerce.
Meghwal also said that as many as 13.2 lakh new dealers have registered themselves in the system so far after the implementation of GST. Out of which, 56,000 were from West Bengal, the highest in India. He said total number of registered dealers in the indirect tax system in the pre-GST regime was 80 lakh.
