Ahead of the crucial meeting of the GST Council, Finance Minister Nirmala Sitharaman on Friday said the buzz of an increase in GST rates is everywhere other than her office. She was responding to a question on talk of current Goods and Services Tax (GST) rates of 5, 12, 18 and 28 per cent being raised to make up for the fall in revenues that has even hampered giving compensation to states for loss of revenue from implementation of the indirect tax regime.
"Buzz is everywhere other than my office," sheremarked. Sitharaman, however, did not rule out a hike in GST rates, saying herministry is yet to apply its mind to it.
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