“Realisations from the GST by way of revenue and by the consequence also on the GST cess has been less than what was expected and it has impacted the finances both of the union government and the states as well. In our chapter relating to resources we have given number of important suggestions on how to restructure the GST and these have been favourably commented upon by the finance minister herself in her Budget speech that on many issues, the GST administration, the procedures and in terms of the broad structure, we need to go back to the drawing board. The GST certainly requires a very fundamental restructuring and the finance secretary has said that they are quite conscious of this and that the GST council would consider many of the suggestions which have been made on the basis of our priority.”
Source: a2ztaxcorp.com
