Chaotically-implemented GST is derailing the government’s revenue target and has not much improved trade within Asia’s No. But the chaotically-implemented goods and services tax (GST) is derailing the government’s revenue target and has not much improved trade within Asia’s No. “Suspicious states”—anxious to retain pre-GST earnings—are stepping up vigilance at their borders, according to Crisil Ltd, and there’s little in the legislation to deter officials seeking bribes. Collections dipped to Rs80,800 crore in November from Rs83,300 crore in October and Rs92,100 crore in September. “We have cut down production.”The GST Council, headed by finance minister Arun Jaitley, has reviewed rates on more than 200 goods, simplified returns and introduced a fixed tax rate for small firms.
Source: Mint January 03, 2018 04:52 UTC