Services may be taxed at 12%, 18% under GST

The powerful GST council headed by finance minister Arun Jaitley is likely to limit the tax rate on services under the new indirect tax regime that will come into force on 1 July to just two slabs—12% and 18%. Goods are to be taxed at five different rates. A panel within the council discussing the tax slabs under the goods and services tax (GST) regime will meet in the capital on Tuesday and Wedne…