REDUCE GST RATE

The World Bank has stated that the Indian GST rate is the second highest in the world. The GST Council should take it seriously and reduce the rates. It will increase tax compliance and minimise under-billing or no billing. Simultaneously, the centre and the state governments should curtail expenditure on governance by 30%. The revenue collection of many states is lower than the expenditure on governance, making them almost defunct. Waivers and bank frauds have added to the problem.

KC Rana, Chandigarh