Fresh talks have started at finance ministry to review goods and services tax (GST) rate structure. Centre is likely to assess various options including a three-slab structure when it meets next for the GST Council. The next GST council is likely to meet as early as February-end.

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However, there is no decision yet and it is only at a discussion stage. There will also be discussions on rate structure at the meeting. However, the view that Centre is likely to go in for rate rationalisation only to achieve revenue neutrality.

Centre is also considering an impact of the convergence of the current rate at 5 percent, 8 percent and 12 percent to keep it in one slab. The Centre is keen to continue with the 18 percent slab to keep the standard rate from 15 and 15.50 percent to keep it at 18 percent, so that more revenues can flow in, and the de-merit goods slab of 28 percent can continue.

Center is keen that there should be detailed deliberations, discussions before GST Council takes any final opinion.