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Govt losing revenue due to GST: Bibek Debroy
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Economic Advisory Council to the Prime Minister Chairman Bibek Debroy on Tuesday said the government was losing revenue due to the GST, which should be revenue neutral with a single rate. Speaking at an event organised by the Calcutta Chamber of Commerce here, he however said that GST has led to a lot of simplification.
«The ideal GST is one that has a single rate, and it was meant to be revenue neutral.
According to calculations by the finance ministry when GST was first introduced, the average rate should be at least 17 per cent. But, the existing rate is 11.4 per cent.
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