NITI backs 5% GST slab for R&D procurement - The Economic Times

New Delhi: The Niti Aayog has proposed restoration of 5% goods and services tax (GST) slab for research and development (R&D) procurement in the country, saying it will increase effective usable funds available to R&D institutions. A GST slab of 5% was available till June 2022. However, the Centre did away with the concessional rates at the 47th GST Council meeting, following which the pub…