Business Standard

Experts call for multiple GST rate cuts in India citing Singapore example

Singapore has only one tax rate under GST- seven per cent -- on taxable goods and services while India has multiple slabs to charge the indirect tax

GST
Premium

GST

Press Trust of India Singapore
Citing the example of Singapore, several experts have suggested that India should do away with multiple tax slabs under the Goods and Services Tax (GST) for greater ease of compliance.

Singapore has only one tax rate under GST— seven per cent -- on taxable goods and services while India has multiple slabs to charge the indirect tax.

An achievement of India's GST implementation is that the measure hasn't been inflationary, according to Abhijit Nath, who works with Insitor Partners, a consultancy firm on GST.

“However, to avoid confusion and greater ease of compliance, India should aim for a two-rate system over time to

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 29 2019 | 2:48 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com