Admitting to space and scope for improvement in the goods and
services tax (GST) regulations and a need to reduce the compliance burden for
small taxpayers, Finance Minister Arun Jaitley recently promised to simplify
GST with fewer slabs once the government crossed the revenue-neutral threshold.
He stressed on the need for the government to mop up revenue.
While addressing officers at the National Academy
of Customs, Indirect Taxes and Narcotics (NACIN) in New Delhi on October 1,
Jaitley urged tax officials to ensure that taxpayers are not harassed.
Multiple tax rates under GST has invited criticism
from various quarters for being far removed from the objective of a single tax
rate on both goods and services. With
over ?90,000 crore as GST payments in each of the first two months of the
rollout on July 1, the government had earlier indicated that collections were
on target.
Source: Business Today, India Wednesday, 04 October 2017