Rationalisation of rates of the goods and services tax (GST) may be taken up in the coming fiscal and the government could give an indication towards this in the upcoming Interim Budget.
The Group of Ministers on rate rationalisation of GST was reconstituted in November this year and indications are that the GST Council may take the issue further in the coming fiscal. Highly placed sources however told Business Today that no meeting of the GoM on rate rationalisation has been scheduled as of now.
“Revenue collection from GST has more or less stabilised at over Rs 1.6 lakh crore per month and compliance is improving. It is likely that rate rationalisation may be taken forward in the new fiscal year,” said another person familiar with the development. However, a final report by the committee could take time once the deliberations start.
Read more at: Business Today
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