New GST rates likely from April 1; rate structure decision on Dec 18

Consumers must brace themselves for higher goods and services tax (GST) rates from April 1, with the GST Council likely to decide on overhauling the rate structure next week in a bid to boost revenue collection. Proposals from the Centre’s side include raising the 5 per cent slab to anywhere between 6 and 8 per cent, and doing away with the 12 per cent slab. A few states may oppose such a move bec…