India's GST structure will be rationalized to primarily three slabs: 5% for merit goods, 18% for most goods (main revenue), and 40% for 5-7 'sin goods'.
"Now going forward we will have a 5% slab a merit right a goods list that is a lot of the goods which are consumed on day-to-day basis by you and me will be taxed at five. There will be another rate 18% where most of the revenue will be collected. Most of the coverage will also be there. Apart from this there will be one more rate that will be 40% which will cover five to seven goods which are sin goods."
