New Delhi: The fate of India’s most ambitious tax reform, the goods and services tax (GST), hangs in balance. Over the next three days, deliberations of the GST council, most of which are expected to be contentious, will determine whether the country can stick to the 1 April deadline for the rollout of the tax. However, the challenge will be to keep the standard rate, or the rate at which most items will be taxed, at around 18%. The council will also have to decide the range of the narrow band within which states can vary the GST rate. “Tax rates are the last big issue which needs to be resolved.

Source: Mint October 17, 2016 18:33 UTC