Guwahati, March 9 -- Finance Minister Nirmala Sitharaman stated on Saturday that GST rates will decrease further, with tax rate rationalisation nearing completion.

She explained that the revenue neutral rate (RNR) dropped from 15.8% when GST was launched in July 2017 to 11.4% in 2023.

Speaking at the 25th The Economic Times Awards, she assured to clear any misconception that GST made life more expensive.

She challenged anyone to find an item where the GST rate increased since its introduction, claiming most rates remained the same or decreased.

The Finance Minister also suggested that GST tax rates would continue to decrease further as the rationalisation process progresses.

In September 2021, the GST Council, led by Sitharaman, form...