Inflation fears: GST rates overhaul unlikely in FY23

The Goods and Services Tax (GST) Council is unlikely to go in for an overhaul of the tax slabs in the current financial year, according to an official source. High inflation has reduced the urgency of the exercise because the objective of revenue neutral rate (RNR) will inevitably lead to higher rates for a large number of items and potentially jack up their prices, the source added. Even though t…