Arun Jaitley on Thursday hinted at merging 12 and 18 per cent tax rates under GST once revenue collections pick up and said the top 28 per cent slab would be for a “very thin” list of luxury and sin goods. The GST currently has four tax slabs of 5, 12 18 and 28 per cent. Speaking at the HT leadership Summit, Jaitley said the new indirect tax regime started with multiple rates in order to keep the tax incidence around the same level that existed pre-GST. Stating that the country would eventually move to a two-tier GST, he said that how fast it could be done would depend on the revenue position of the Government. “We have thinned down the 28 per cent bracket, we can thin down more and it can be at some stage confined to luxury and demerit goods,” Jaitley said adding that as GST collections improve, the Government would see if there is a scope for merging 12 and 18 per cent slabs.