Quick Summary
Union Finance Minister Nirmala Sitharaman has dismissed claims of "friction" between the Centre and states over Goods and Services Tax (GST), emphasizing the importance of respecting India's federal structure in economic reforms. Addressing a meeting hosted by the Revenue Bar Association, Sitharaman clarified that simplifying and easing taxpayer compliance has been the priority during Union Budget discussions, not revenue generation. She highlighted that consultations, including those with Prim
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FAQ :
No, Finance Minister Nirmala Sitharaman has dismissed claims of friction, stating that the Centre and states respect the federal structure and work together on GST.
The priority is simplifying and easing tax compliance for taxpayers, with revenue generation being a secondary consideration.
The average GST rate in 2023 has dropped to 12.2%, which is below the revenue-neutral rate of 15.3%.
She described it as a cooperative federal structure, where both levels of government work together to widen the tax base and facilitate development, respecting each other's roles.
According to the Finance Minister, politics plays a minimal role in these discussions, with the focus being on simplifying laws, rationalising rates, and ensuring justified revenue collection.
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