GST slabs may be reduced to three to simplify tax system: Sanyal
Kolkata, Aug 4: Principal Economic advisor to the Finance Ministry Sanjeev Sanyal on Saturday said Goods and Services Tax (GST) slabs may be brought down to three along with the exemption category in order to further simplify the country's tax regime.
"The lower rate will be five per cent, the middle bracket of 12 and 18 per cent can be combined to a central rate of roundabout 15 per cent and we might have a top rate of 25 percent," he said.
"The central rate of 15 per cent will be applied for the bulk of goods. We are looking to have a simple tax rate with round figures and most of the goods with the same rate," he said.
Currently there are four GST slabs of 5, 12, 18 and 28 per cent, plus the exempted category which attracts zero per cent GST.
Sanyal said the centre would consider further simplifying the direct tax collection system and reduce the rates if the tax revenues continue to do well.
"As the tax system gets simplified, more and more people will be paying their taxes. The tax collection has significantly gone up since the introduction of GST and now a lot of people are paying direct taxes," he said.
So if the direct tax revenues continue to do well, the centre may further simplify the direct tax system, lower the rates and would ultimately move towards the corporate tax rate of 25 percent," said Sanyal.
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CM, DCM mark 69th Kannada Rajyotsava with festive messages
DCM DK Shivakumar uses Instagram Kannada filter, nominates Speaker UT Khader to continue campaign
Bengaluru: Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar shared heartfelt messages on X in celebration of the 69th Kannada Rajyotsava, highlighting the importance of Karnataka’s heritage, language, and culture.
CM Siddaramaiah emphasised that Kannada Rajyotsava is a day for committing to the preservation and growth of Karnataka’s identity, encompassing its people, language, culture, land, and water. He wished all Kannadigas a happy Kannada Rajyotsava, expressing the hope that love and care for Kannada would become a daily celebration. “Best wishes to all Kannadigas on Kannada Rajyotsava. ‘Sirigannadam Gelge, Sirigannadam Balge,’” he shared.
ಕನ್ನಡ ರಾಜ್ಯೋತ್ಸವ ಎಂದರೆ ನಮ್ಮ ಜನ, ಭಾಷೆ, ಸಂಸ್ಕೃತಿ, ನೆಲ, ಜಲ ಎಲ್ಲವನ್ನೂ ಒಳಗೊಂಡ ಕನ್ನಡತನವನ್ನು ಉಳಿಸಿ-ಬೆಳೆಸುವ ಕಾರ್ಯಕ್ಕೆ ನಮ್ಮನ್ನು ಸಮರ್ಪಿಸಿಕೊಳ್ಳಬೇಕಾದ ದಿನ. ಕನ್ನಡದ ಬಗೆಗಿನ ಪ್ರೀತಿ - ಕಾಳಜಿ ಇಂದಿಗಷ್ಟೆ ಸೀಮಿತವಾಗದೆ, ನಮ್ಮೆಲ್ಲರ ಬದುಕಿನ ನಿತ್ಯೋತ್ಸವವಾಗಲಿ.
— Siddaramaiah (@siddaramaiah) November 1, 2024
ಸಮಸ್ತ ಕನ್ನಡಿಗರೆಲ್ಲರಿಗೂ ಕನ್ನಡ ರಾಜ್ಯೋತ್ಸವದ… pic.twitter.com/bsy0Fm9y2M
DCM DK Shivakumar celebrated digitally by taking a selfie with the ‘Kannada Filter’ on Instagram, encouraging others to join in. He nominated Speaker U.T. Khader to continue this digital campaign, marking it as a small step to spread Kannada’s glory worldwide. “May the lamp of Kannada shine forever, lighting the way for everyone,” he added.
೬೯ನೇ ಕನ್ನಡ ರಾಜ್ಯೋತ್ಸವವನ್ನು ಡಿಜಿಟಲ್‌ ರೂಪದಲ್ಲಿ ಆಚರಿಸಲು ನಾನು ಇನ್ಸ್ಟಾಗ್ರಾಂನಲ್ಲಿ ʻಕನ್ನಡ ಫಿಲ್ಟರ್‌ʼ ಬಳಸಿ ಸೆಲ್ಫಿ ತೆಗೆದುಕೊಂಡಿದ್ದೇನೆ. ಸಭಾಪತಿಗಳಾದ ಶ್ರೀ ಯು.ಟಿ ಖಾದರ್‌ ಅವರನ್ನು ಈ ಅಭಿಯಾನವನ್ನು ಮುಂದುವರೆಸಲು ನಾಮಿನೇಟ್‌ ಮಾಡುತ್ತಿದ್ದೇನೆ. ಕನ್ನಡದ ಗರಿಮೆಯನ್ನು ಜಗದಗಲ ಪಸರಿಸುವ ನಿಟ್ಟಿನಲ್ಲಿ ಇದೊಂದು ಪುಟ್ಟ ಹೆಜ್ಜೆ.… pic.twitter.com/WsAYDK2d6K
— DK Shivakumar (@DKShivakumar) November 1, 2024
