GST standard rate to be fixed between 12-18% for commonly-used items: Arun Jaitley
Stating that only cement and auto parts are items of common use which remain in 28 per cent slab, Jaitley said the next priority will be to transfer cement into a lower slab. "All other building materials have already been transferred from 28 per cent to 18 per cent and 12 per cent. The sun is setting on the 28 per cent slab," he added.
The GST Council in its last meeting on Saturday cut rates on 23 items, thereby trimming the 28 per cent slab. Image source: Reuters