Begin typing your search above and press return to search.
Centre to reduce GST Slabs soon
By: Tupaki Desk | 25 Nov 2017 9:43 AM GMT
Chief Economic Adviser (CEA) Arvind Subramanian hinted Goods and Services Tax (GST) will have fewer slabs in future. He predicts the exercise to making existing 12 percent and 18 percent tax slabs into one. At the same time, He is pretty sure that having a single GST Slab isn't gonna be possible.
Arvind Subramanian assures GST Regime which rolled out from July 1st this year will stabilise in the next 6 to 9 months. He firmly believes Foreign Countries will try to emulate India's GST Model sometime in future.
When asked about the glitches in the implementation of GST, Mr. Subramanian says they are expected considering the complicated Tax system in India. He, however, feels Centre should have implemented in a much better manner. 'Its the job of GST Council to ensure setbacks are addressed at the earliest,' he said.
Four Slabs of GST has confused both the Traders and Consumers. NDA Government received flak from Opposition over too many slabs.
Arvind Subramanian assures GST Regime which rolled out from July 1st this year will stabilise in the next 6 to 9 months. He firmly believes Foreign Countries will try to emulate India's GST Model sometime in future.
When asked about the glitches in the implementation of GST, Mr. Subramanian says they are expected considering the complicated Tax system in India. He, however, feels Centre should have implemented in a much better manner. 'Its the job of GST Council to ensure setbacks are addressed at the earliest,' he said.
Four Slabs of GST has confused both the Traders and Consumers. NDA Government received flak from Opposition over too many slabs.
