Letter to BS: GST has a long to-do list in its second year

Idea behind GST was not only to formalise the economy but to make the tax net wider

It refers to “A work in progress” (July 2). Ever since the biggest tax reform, GST, was launched last year, it was not expected to be glitch-free. It was bound to attract criticism and face more than a few teething problems. But to the credit of the GST Council, it has been more than accommodating to the market and industry demands. At present, we have five slabs, while ideally we should only have maximum two or three slabs. Bringing petrol and diesel under GST will really transform our economy in a big way as it will positively influence the economy