Need to introduce 12% single rate GST system at the earliest, says Vijay Kelkar
The next government at the Centre must at the earliest introduce a single GST rate system of 12 per cent across the country, Vijay Kelkar, who was Chairman of the 13th Finance Commission, has suggested.
Also, the new dispensation should go in for a constitutional amendment to ensure equitable sharing of GST proceeds with the Centre, States and the local governments such as municipal corporations, he said.
A constitutional amendment will also be required to create the Consolidated Fund for the Third Tier Government, according to Kelkar.
“Equitable sharing of the GST with the Third Tier will go a long way in strengthening the fiscal base of our urban governments and also to deepen democracy and governance at the grassroots level”, Kelkar said after receiving the 4th TIOL Fiscal Heritage Award 2023 here.
India is moving towards a seven-phased general elections beginning from April 19 and slated to end on June 1.
