N K Singhs suggests 3 changes to make GST system more efficient

by Nidhi Bhati

15th Finance Chairman (FC) N K Singh has suggested three changes to make the Goods and Services Tax (GST) system more efficient. These include greater rate rationalisation, getting rid of exemptions and improving the quality of technology and invoice matching. Singh mentioned that any finance commission’s job was a balancing act to reconcile the different objectives. He further stated that a different mechanism was needed to continue the dialogue between the Centre and states on tax devolution. Perhaps the NITI Aayog can be restructured or a revamped Centre-states council or a different structure altogether may be needed for the dialogue between the Centre and states to continue.

References
1. https://www.business-standard.com/article/economy-policy/gst-not-a-perfect-system-requires-changes-rate-rationalisation-n-k-singh-120111901548_1.html