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Jaitley promises GST simplification after revenue buoyancy
04
Oct '17
Jaitley promises GST simplification after revenue buoyancy
Admitting to space and scope for improvement in the goods and services tax (GST) regulations and a need to reduce the compliance burden for small taxpayers, Finance Minister Arun Jaitley recently promised to simplify GST with fewer slabs once the government crossed the revenue-neutral threshold. He stressed on the need for the government to mop up revenue.

While addressing officers at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN) in New Delhi on October 1, Jaitley urged tax officials to ensure that taxpayers are not harassed.

Multiple tax rates under GST has invited criticism from various quarters for being far removed from the objective of a single tax rate on both goods and services.

With over ?90,000 crore as GST payments in each of the first two months of the rollout on July 1, the government had earlier indicated that collections were on target. (DS)

Fibre2Fashion News Desk – India


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