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GST panel may recommend to hike 5% tax slab to 6% to boost revenues

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A revamp of goods and services tax (GST) structure is on the cards as the committee for augmenting GST revenue collections is likely to rejig the slabs and raise the existing 5 per cent rate to 6 per cent that can help to garner additional revenues of Rs 1,000 crore per month. At present, the 5 per cent slab includes essential commodities such as food items, basic clothing, and footwear.

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