India Inc gives thumbs up to GST, but says long way to go in fixing issues

GST-related litigation set to rise as companies and the government differ on tax rates and data reconciliation

While India Inc is largely positive about the Goods and Services Tax (GST), which completes five years of operation on July 1, most CEOs say that a lot more needs to be done to fine-tune the tax rates and reduce litigation.

Industry leaders in various sectors say that though the GST has been a good piece of reform, there ought to be more rationalisation and clarity on the tax rates.

“For instance, the GST charged on railways and metro projects is at the rate of 12 per cent. However, we end up paying 28 per cent on inputs such as