“There is a concern over lower tax collections,” a senior finance ministry official said. GST— ‘Chaos and pandemonium’The main problem has been the introduction of the GST, billed as India’s biggest tax reform in 70 years. “If the revenues remain below target, then the government could cut spending on railways and road transport,” the second finance ministry official said. Bhanumurthy, an economist at the National Institute of Public Finance and Policy, a Delhi-based think-tank funded by the finance ministry. Tax collectionsA finance ministry spokesman said tax receipts were expected to improve as problems related to the new GST system and the technology underpinning it were tackled.

Source: Mint September 19, 2017 03:45 UTC