Union Finance Minister assures no conflict between Centre and States on GST implementation, emphasizing federal structure and taxpayer compliance.

Union Finance Minister Nirmala Sitharaman assured that there is no conflict between the Centre and States regarding the Goods and Services Tax (GST) implementation. She emphasized the need to respect the federal structure and prioritize taxpayer compliance over revenue generation. The average GST rate is currently 12.2%, below the suggested 15.3% revenue-neutral rate. Sitharaman highlighted the cooperative efforts of the GST Council in addressing tax evasion and compliance.

September 05, 2024
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