GST revamp: Council meet to weigh big rate rejig; 5% EV tax as opposition states push hard on revenue loss

The Centre is advocating for a 5% GST on electric vehicles as part of a broader tax overhaul, aiming to simplify the GST structure to two main slabs: 5% and 18%. This reform seeks to lower taxes on everyday goods while opposition-ruled states are concerned about potential revenue shortfalls and are seeking compensation.