As the Goods and Services Tax (GST) authorities set out to chart the future roadmap of the indirect tax regime, the biggest question is whether the GST structure can be simplified further, with fewer tax slabs, minimal carve outs and exemptions, easier compliance, and revenue-neutral rates for both states and the Centre. The complexity of the GST structure has been highlighted by issues such as different rates for similar items, leading to classification disputes and confusion for both tax authorities and manufacturers.
Source A2ztaxcorp
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