Govt says GST rates may be rejigged to reduce burden on SMEs
Just few months after the introduction of the GST, the new tax regime has seen several teething troubles and compliance issues.
Key highlights:
- Hasmukh Adhia said that some rejig in the GST rate structure is required to reduce the burden on SMEs
- He further said the GST will take about a year to stabilise
- The GST Council's 23rd meeting will be held on November 10 in Guwahati
The government seemed to have made yet another indication that it may reduce the Goods and Service Tax (GST) burden for small and medium businesses. Revenue Secretary, Hasmukh Adhia said that some rejig in the GST rate structure is required to reduce the burden on SMEs.
He further said the GST will take about a year to stabilise. GST is a combination of dozen central and state levies like excise duty, service tax and VAT,
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