The Goods and Services Tax rate structure has become distorted due to a string of rate reductions after the new indirect tax was introduced two years ago, Finance Minister Nirmala Sitharaman said at the Hindustan Times Leadership Summit on Saturday. Once the GST rate was decided and the biggest indirect tax reform launched in 2017, Sitharaman said the GST council went about reducing the tax rate of certain set of commodities. “And I am not blaming anyone here. Equally all of us went about in every meeting of the GST council to reduce the taxation rate of certain set of commodities,” she said. This, she said, kept on happening. “At the end of the day, the intentions were good. (but the tax rates) kept reducing, kept reducing. Now reduction per se is not bad,” she added. For more videos, subscribe to our channel:
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