One economic India: Transition to regime complicated, says Economic Survey

It adds, states haven't tried to keep rates low & simple; revenue collection remains a key challenge

Looking at goods and service tax (GST) from the prism of One Economic India, the Economic Survey 2016-17 has criticised the current structure of the new tax regime, even though the Constitution provides flexibility. It has pitched for extending the scope of GST to include tax on land and other immovable property that are key investment avenues for black money. This could propel gross domestic product (GDP) growth to 8-10 per cent.

Though it will create a common Indian market and improve compliance, the Survey admitted the transition to GST was “so complicated from an administrative and technology perspective that