Two-rate GST plan for services

The GST council's fitment committee has tentatively decided to have two tax slabs - 12 per cent and 16 per cent - for services, while continuing with five slabs for goods. Members of the fitment committee said they decided on the two rates for services after there were several representations on how an 18 per cent rate, which was being considered at one point, would lead to business loss. The fitm…