Govt orders biggest review of GST since its launch
Rates & Slabs Likely To Be Tweaked
New Delhi: Two years after its launch, the government has begun the biggest review of goods and services tax (GST) — including a possible
of resetting of rates along with a scrutiny of the slabs — to tone up collections and plug leakages.
The task has been assigned to a 12-member committee of state and central government officials to “augment GST collection and administration”, set up a day before the PMO leads consultations with state chief secretaries on Friday, where it is expected to urge them to push for improved collections.
The terms of reference clearly indicated that the panel should suggest systemic changes to prevent misuse, improve voluntary complian
ce, boost overall compliance monitoring and suggest antievasion measures.
With inverted duty structure proving to be a source of leakage in sectors like restaurants, sources told TOI that the rates may be reviewed.