| Update: | Compliance Alert - Reforms to simplify and reorganize GST rates |
| Date: | 2024-01-03 |
The Indian Goods and Services Tax Council considers the reorganization of Goods and Services Tax rates in India by reducing the number of rates to four and by restructuring the taxable items.
The current five GST rates (0%, 5%, 12%, 18%, and 28%) are likely to be reduced to four GST rates (0%, 5%, 18%, and 28%).
There are still ongoing discussions on which rates should be set as the final GST rates.
These reorganization reforms are expected to be raised during 2024.