Tuesday, December 3, 2019

GST council begins review of rates, items to raise revenue

The government has begun discussions with states for a possible revamp of the goods and services tax as part of an exercise to shore up revenue. The move comes at a time when tax collections have been hit, which authorities believe is due to a massive reduction in rates. The RBI had recently estimated that the effective GST rate in India has come down from 14.4% in May 2017 to 11.6% now.

source https://timesofindia.indiatimes.com/business/india-business/gst-council-begins-review-of-rates-items-to-raise-revenue/articleshow/72356691.cms

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