Faridabad, Oct 1 (PTI) Finance Minister Arun Jaitley on Sunday hinted that there is scope for lesser slabs under the Goods and Services Tax (GST) once there is revenue buoyancy.

"We have almost by the day, space and scope for improvement. We have space for improvement and need for improvement to reduce compliance burden as far as small taxpayers are concerned," he said at an event here.

"We have space for improvement, eventually once we become revenue neutral, to think in terms of bigger reforms such as lesser slabs, but for that we have to become revenue neutral...," he added.

Currently, GST has four slabs, with rates ranging from 0 to 28 per cent.

GST slab rationalization may follow revenue buoyancy, enabling rate consolidation and lower compliance for small taxpayers. Scope for reducing GST slabs is framed as contingent on achieving revenue buoyancy and eventual revenue neutrality, which would create fiscal space to consider fewer tax slabs. The commentary also emphasizes reducing compliance burden for small taxpayers as a concurrent objective tied to any rate consolidation, noting the current operation of multiple rate tiers including a zero rate and an upper standard rate.