Since its rollout in 2017, the Goods and Services Tax (GST) has seen several structural refinements. One of the most anticipated reforms currently under discussion is GST rate rationalisation, aimed at simplifying the tax structure and addressing long-standing concerns from industry stakeholders. How GST is Currently Structured Currently, the GST regime consists of four primary tax slabs—5%, 12%, 18%, and 28%—along with exempted and zero-rated…
