The 47th meeting of the Goods and Services Tax (GST) Council, which ended on Wednesday, was perhaps one of the most important since the implementation of the new indirect tax regime. In this regard, our
editorial notes that if the compensation is not extended, which is a strong possibility, recommendations in the context of rate rationalisation would become more important. Moving to the revenue-neutral rate with fewer slabs would help boost revenue for both Centre and states. Read
here
V S Krishnan, a former member of the Central Board of Indirect Taxes & Customs, argues that GST is more than just a tax reform. Read
here
Health care in the NCR for lower income groups and the affluent is riddled with flaws, writes
Jaimini Bhagwati. Read
here
Quote of the Day
“A few states today said that they would like the compensation to continue for some time.”
Union Finance Minister Nirmala Sitharaman