The rationalization of the goods and services tax (GST) is likely to be delayed due to increased inflation, sources said Wednesday.
The GST regime taxes goods and services in four tax brackets of 5 percent, 12 percent, 18 percent and 28 percent. Consideration was being given to potentially lowering these tax brackets to 3, an exercise that would increase taxes on some items and others.
But as inflation rates are still high, such an exercise is likely to be delayed, sources said.
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