Chief Economic Adviser Subramanian says three-tier GST structure possible

Chief Economic Adviser Arvind Subramanian Wednesday said a three-tier structure under Goods and Services Tax (GST) is possible, ruling out a single-rate tax system.

“In India, we can never have one rate. I had recommended a standard rate and one for demerit good, one for…I think in India the debate should be about why can’t we have three rather than why not one?” Subramanian said at the India Policy Forum, 2018.

Currently, GST has four broad tax slabs- 5, 12, 18 and 28 percent– and three percent tax on gold and other precious stones.

Subramanian, who recently announced his decision to resign, said once revenue collection stabilizes the 28 percent slab can go.



Source: Moneycontrol

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