GST may have fewer slabs in future, says Chief Economic Adviser

  • GST may have fewer slabs in future, says Chief Economic Adviser
27-11-2017 | Pratidin Bureau. |

Chief Economic Adviser (CEA) to the Government of India, Arvind Subramanian has said going forward the Goods and Services Tax (GST), may have fewer rates by “collapsing” 12 per cent and 18 per cent tax slabs into one.

Delivering a lecture at the ICFAI Institute of Higher Learning in Hyderabad, he said the new tax regime, rolled out from July 1, will stabilise in the next six to nine months and will become a “model” for other countries.

Admitting there were some technical glitches in the filing systems under the regime, he said the new system is a bit “complicated” as states have different IT systems and these issues are being addressed by the GST Council.

Subramanian described the GST implementation as a “transformational fiscal reform” that the country had not seen in the past.

Tags : GST GST slabs Chief Economic Adviser Arvind Subramanian


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