Vivek Johri has indicated that any potential changes to Goods and Services Tax (GST) rates will require careful consideration and may need to be implemented gradually. The chairman of the Central Board of Indirect Taxes and Customs (CBIC), in an interview with Moneycontrol, emphasised the importance of revenue efficiency and suggested that rate rationalisation should be approached cautiously to ensure the stability of consolidated revenues.
The 50th meeting of the GST Council is scheduled to take place on July 11 at Vigyan Bhawan in New Delhi.
As revenue efficiency improves, as per Johri, there will be a greater scope for accepting rate rationalisation. However, he stressed on the need for a calibrated approach, indicating that it may not be possible to implement all changes at once. A gradual glide path would be necessary to ensure that any consolidation of revenue is not adversely affected, he told the publication.
Read more at : Livemint
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