New Delhi, 7 November: Vivak Debroy, chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), suggested only one Goods and Services Tax (GST) rate.
Debroy said this at an event here on Monday. Debroy said that the taxation system should be free or exempt. However, Debroy clarified that his opinion should not be taken as a suggestion of the EAC-PM. He said the tax collection of the Center and the states is only 15 per cent of the Gross Domestic Product (GDP), while the demand for government spending on public infrastructure is much higher.
EAC-PM chairman Vivek Debroy said this is my opinion on GST. He said that whatever the product, the GST rate should be the same. “However, I don’t think we will ever get that.” He said that his view should not be taken as a suggestion of the EAC-PM. Debroy said that before the implementation of GST, the Department of Economic Affairs had given an estimate of 17 per cent GST Revenue Neutral Rate (RNR) but today the average GST is 11.5 per cent.
