Committee headed by the Chief Economic Adviser Dr. Arvind Subramanian on Possible Tax rates under GST submits its Report to the Finance Minister; On the Revenue Neutral Rate (RNR), the Committee recommends the same in the range between 15 percent and 15.5 percent (Centre and states combined) with a preference for the lower end of that range based on the analysis made in the Report https://www.taxtmi.com/news?id=15274 The Report recommends using a Revenue Neutral Rate as an analytical benchmark and advises a narrow combined Centre and states RNR with a preference for the lower end; it proposes conditional rate structures tied to exemptions and special treatment (including demerit taxation), favors a medium term one rate GST with a transitional two rate approach, urges rationalization of exemptions to protect the standard rate and compliance, and calls for Centre state allocation of combined rates, credible compensation mechanisms, and extended monitoring before rate changes. en-us Sat, 05 Dec 2015 15:37:27 +0530 Fri, 11 Dec 2015 17:48:00 +0530 TaxTMI RSS Generator Committee headed by the Chief Economic Adviser Dr. Arvind Subramanian on Possible Tax rates under GST submits its Report to the Finance Minister; On the Revenue Neutral Rate (RNR), the Committee recommends the same in the range between 15 percent and 15.5 percent (Centre and states combined) with a preference for the lower end of that range based on the analysis made in the Report https://www.taxtmi.com/news?id=15274 The Report recommends using a Revenue Neutral Rate as an analytical benchmark and advises a narrow combined Centre and states RNR with a preference for the lower end; it proposes conditional rate structures tied to exemptions and special treatment (including demerit taxation), favors a medium term one rate GST with a transitional two rate approach, urges rationalization of exemptions to protect the standard rate and compliance, and calls for Centre state allocation of combined rates, credible compensation mechanisms, and extended monitoring before rate changes. News - Sat, 05 Dec 2015 15:37:27 +0530 https://www.taxtmi.com/news?id=15274