In public finance, a common saying is that tax administration is 70 per cent tax policy. Happily in Guwahati, this taxation truth was accepted and the changes announced will help make the goods and services tax (GST) what the Prime Minister called “a good and simple tax”.
First of all, let us look at the important area of rate rationalisation. Earlier, the rate fitment committee, based on the guidelines of the GST Council, sought to fix GST rates on various items based on the principle of “duty equivalence”. This led to a large number of consumer items being placed in the
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