The Goods and Services Tax will have four slabs of rates and final decision on tax rate will be taken tomorrow. <br/><br/>Talking to reporters after the end of the first day meeting of GST Council in New Delhi today, Kerala Finance Minister K. M. Mani said the council reached consensus on state compensation and base year will be 2015-16. <br/><br/>Finance Minister Arun Jaitley said the meeting has arrived at a consensus on definition of revenue to compensate states for their losses due to implementation of GST. <br/><br/>He said the input tax credit will be a part of revenue. Mr. Jaitley added rate structure should be such which do not lead to further CPI inflation and both states and Centre can discharge their duties. He said the rate should be be revenue-neutral so that there is no need to burden consumers with additional tax.