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GST rate rationalisation needed: Finance SecyGST rates need to be rationalised: Finance Secretary

  • 04 Feb 2025
  • Team Edukating
  • 392

New Delhi, Feb 3 (PTI) Finance Secretary Tuhin Kanta Pandey on Monday said enough experience has been gained with regard to implementation of GST and now the rates need to be rationalised in consultation with states.

The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising her state counterparts, has set up a group of ministers (GoM) to suggest changes in GST rates as well as reduce slabs.

The report on rate and slab rejig is long pending. It was expected that the GoM would submit its report in the last Council meeting in December, but it did not.

Replying to a query from industry representative at a FICCI post-budget meeting, Pandey said GST brought in transparency in taxation post its implementation in 2017.

"Now that we have certain experience in GST implementation, it will be very important to see how things will be going forward. The exercise needed much more consultation with states in the Council," said Pandey, who is also the Revenue Secretary.

He said rate rationalisation is a work in progress and hoped that it is carried out.

Source : https://www.livemint.com/focus/gst-rate-rationalisation-needed-finance-secygst-rates-need-to-be-rationalised-finance-secretary-11738574091156.html

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