Arun Jaitley, Former finance minister on Monday said that with the rise in revenue definitely, the country may have two rates for the Goods and Services Tax (GST).
He said that such a practice is likely to be only in very wealthy countries.
“As revenue increases further, it will give an opportunity to policymakers to possibly merge the 12% and 18% slab into one rate, thus, effectively making the GST a two-rate tax,” he said in his ‘Two Years After GST’ blog.
This is his first blog after he stepped down of Prime Minister Narendra Modi’s council of ministers. His earlier blog was about exit polls foretelling a clear win for PM Modi.Share this to your,