Union finance minister Nirmala Sitharaman has denied any friction between the Centre and states over GST, emphasizing the importance of respecting the federal structure. She highlighted that simplifying taxpayer compliance takes precedence over revenue generation in budget meetings. The average GST rate has decreased to 12.2% as of 2023, below the suggested revenue neutral rate.
Union finance minister Nirmala Sitharaman has denied any friction between the Centre and states over GST, emphasizing the importance of respecting the federal structure. She highlighted that simplifying taxpayer compliance takes precedence over revenue generation in budget meetings. The average GST rate has decreased to 12.2% as of 2023, below the suggested revenue neutral rate.