GST standard rates may not be merged any time soon

Clubbing 12% and 18% rates may cause an annual revenue loss of ₹1 lakh cr: Official The Revenue Department does not think it would be appropriate even in the near future to merge the two standard rates of Goods & Services Tax (GST) into one rate. The existing GST regime has multiple rates: 0, 0.25, 1, 3, 5, 12, 18 and 28 per cent. The 12 per cent and 18 per cent rates are known as ‘Standard Ra…