New Delhi, 31 August(Wishav Warta): Finance minister Arun Jaitley on Thursday indicated that the number of tax slabs under the goods and services tax (GST) regime could be reduced once the new indirect tax system that was launched on 1 July settles down.
Speaking at the India summit organised by The Economist in the capital, Jaitley said the GST Council which takes decisions on all indirect tax matters may consider the idea of collapsing the standard rates of 12% and 18% into one in due course.