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Say No To Popcorn-Like GST Rationalisation

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The Goods and Services Tax (GST) was meant to simplify the tax system, inject a good measure of uniformity nationwide, and make the entire exercise of tax collection transparent. In fact, it was billed as a "one-nation,
The article from MSN discusses the ongoing debate over the Goods and Services Tax (GST) rationalization in India. It highlights the complexity of the current GST structure with multiple tax slabs, which has led to confusion and inefficiencies. The article mentions the call for a simpler tax regime, often referred to as "popcorn-like GST rationalisation," where the tax structure would be streamlined to make it more straightforward and less cumbersome for businesses and consumers. Experts argue that a simpler GST system could enhance compliance, reduce litigation, and boost economic growth. However, there are concerns about the potential revenue implications and the political challenges in achieving consensus among states for such reforms. The piece also touches on the government's efforts to review and possibly reform the GST framework to address these issues, aiming for a more efficient tax system.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/economy/say-no-to-popcorn-like-gst-rationalisation/ar-AA1wtYZI ]