A simplified GST structure: Revenue collection must be closely tracked

A simplified GST structure will help all stakeholders. The government expects that lower GST rates, along with income-tax relief, will boost consumption

In his address to the nation on Sunday, Prime Minister Narendra Modi underscored how changes in the goods and services tax (GST) structure — which were cleared by the GST Council earlier this month and came into effect on Monday — would make goods and services more affordable for people and simplify operations for businesses. The GST Council, in its 56th meeting, had decided to move mainly to a two-rate structure, 5 per cent and 18 per cent, for most goods and services, with a demerit rate of 40 per cent for a select few goods. The council