Bihar Deputy Chief Minister and convener of Group of Ministers on IGST Sushil Kumar Modi says the GST Council has decided to consider changes in rates once a year, and not in each and every meeting.
He said, there is no possibility of change in GST rates till revenue collection stabilises. Sushil Modi said any change in slabs and tax rates – hike or cut – in the near future is unlikely. He was addressing the annual convention of FICCI on the theme ‘India: Roadmap to a Five Trillion Dollar Economy’ in New Delhi. He said no state or the Centre is ready to raise tax rates.