Rationalisation of goods and services tax rate structure is on the government’s agenda and it is definitely going to happen, chief economic adviser KV Subramanian has said. He said a three-rate structure was important, but there was a need to fix inverted duty structure.
“I think that’s something definitely going to happen,” he said in response to a question on GST ‘structure rationalisation’. He said the original plan was to have a three-rate structure. “But I think what we have to be very cognizant about is that oftentimes with policy making you don’t want perfect to actually become the enemy of the excellent,” he added.