Experts call for GST revamp, solution to State’s concerns
The Hindu
‘GST system is turning increasingly complex’
The Goods and Service Tax (GST), introduced in 2017, requires a comprehensive revamp, experts attending a two-day international seminar organised by the Gulati Institute of Finance and Taxation (GIFT) on ‘India’s Experience with GST’ have opined.
The tax system has adversely impacted the revenues and economic independence of States, they said. The speakers at the seminar, which concluded here on Saturday, also expressed concern regarding fiscal federalism against the backdrop of GST implementation.
The need for a revamp of the tax rates and a constructive resolution to the States’ demand for an extension of the GST compensation period beyond June 2022 were highlighted at the seminar which saw participation by Indian and foreign delegates.