New Delhi, Oct 17 (KNN) With over four months into the Goods and Services Tax (GST), the government is considering revising the list of items that are placed under the high tax slab of 28 per cent, Revenue Secretary Hasmukh Adhia informed.

Adhia in a press interview said that the decision of assigning items under different ta slabs were based on the assessments of excise and VAT, whereas there are now talks being held to reconsider the list under the higher end of the tax rate.

Adhia further said that there are industries where 95 per cent of production used to take place in MSME and all of them used to avail excise duty exemption.

The revenue secretary explained that this means that the excise rate taken for that item is only theoretical in nature that has led to a substantial increase in the rate of that item.

Commenting over the mechanism that the council plans to undertake to revise the list, the secretary said that the fitment committee will have a look at how much revenue is being collected from these items from excise and VAT earlier before the council takes a decision on the reduction of the rates.

Adhia made these remarks during a press interaction at a GST Townhall event in the national capital. (KNN/DA)