Centre in favour of merging two tax brackets in GST

The central government is in favour of merging the goods and services tax (GST) rates of 12% and 18% into a single slab, a top finance ministry official said, acceding to a demand first made by some states and endorsed by the Fifteenth Finance Commission (FFC). GST Council, India’s federal indirect taxes body, may discuss the matter at its meeting in March, the official added. Apart from special r…