A key panel on goods and services tax is likely to recommend a revenue-neutral rate of about 18 per cent. The group, headed by Chief Economic Adviser Arvind Subramanian, has zeroed in on the rate after considering various scenarios, brightening the chances for this important reform as the low rate should be acceptable to everyone."It has worked out to about 18 per cent," a government official privy to discussions said.
Source - http://economictimes.indiatimes.com
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