Federal Treasurer Scott Morrison has revealed plans to remove the 10 percent GST from tampons and sanitary pads.

In an interview with The Saturday Telegraph , Mr Morrison called the tax an "anomaly", admitting it had caused women "frustration and angst".

"I can see it is a source of frustration and angst. Here's a straightforward practical opportunity to deal with it once and for all," he said.

“I can see it is a source of frustration and angst. Here’s a straightforward practical opportunity to deal with it once and for all." Picture: AAP (AAP)

"I think it's an anomaly that has been built into the system for a long time and the states have decided to hold onto the money instead of getting rid of it."

Mr Morrison had requested in June state treasurers address the question of continuing the tax at their next annual meeting in September or October.

States and territories will need to sign off on Mr Morrison's proposed changes before the feminine hygiene products GST can formally be axed.

“I think it’s an anomaly that has been built into the system for a long time and the states have decided to hold onto the money instead of getting rid of it.” Picture: AAP (AAP)

Today, politicians from several states - including the NSW Treasurer Dominic Perrottet, Victorian Treasurer Tim Pallas and Queensland MP Stirling Hinchcliffe - said they would be happy to back the move.

"In principle, we support the Federal Government's decision - we'll work through the details," Mr Perrottet said.

State treasurers previously refused to sacrifice the annual $30 million tax revenue made from the products despite a push by then-Treasurer Joe Hockey in 2015.

Mr Morrison has told detractors to "leave their manifestos at the door and deal with it practically".

“I’m happy to see this remedied and it shouldn’t be consuming an enormous amount of time, it’s a fairly straightforward decision to make," he said.

Mr Morrison's announcement comes just months after a Greens bill opposing the tax passed the upper house .

The Labor Party said in a statement they welcome the Liberals' "belated admission the unfair tax needs to be scrapped".

"But without a plan to make up for the loss of GST revenue to the states and territories any move to scrap the 'tampon tax' runs the real risk of failure."

Labor said their fully costed policy includes a plan to offset the loss of revenue to the states by applying the GST to 12 natural therapies that are "not supported by clinical evidence" like iridology and naturopathy.