 "GST, goods and services tax")
The goods and services tax (GST) 2.0 unveiled by the central government has certainly simplified the rate structure and has rectified some of the anomalies – one being the inverted duty structure in the textile and fertiliser sectors. The scope for classification disputes has been significantly reduced with all food items coming under the 5 per cent rate slab instead of the earlier 5 and 12 per cent slabs.
However, while evaluating the GST reforms, the fundamental goal must not be forgotten. It was to raise the GST tax-to-GDP ratio by widening the tax base, by improving compliance, by ensuring
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