The multiple tax slabs of the present structure of GST (Goods and Services Tax) has attracted criticism from certain quarters, given that it's not exactly 'one nation, one tax'. Currently, the goods and services are categorised under four slabs- 5, 12, 18 and 28 per cent with few items like gold and rough diamonds attracting exclusive rates. simplifying the old tax structure. ( Click here for complete list of GST rates Finance Minister Arun Jaitley , last week while speaking to the media, clarified the rationale behind the four-slab structure. We will prefer to have a single GST rate but after sometime.

Source: Times of India July 03, 2017 12:56 UTC