GST reforms may hit revenue by ₹50,000 cr, still be manageable: Report
The government’s intention to reform GST to a two-tier structure and the proposed rate rationalisation could impact revenue by ₹50,000 crore, a report stated. Finance Ministry officials reportedly said that the impact is manageable. The next-gen GST reform will have two tax rates of 5% and 18%, and mobiles, computers and frozen vegetables are expected to shift to 5% bracket.