The government has begun discussions with states for a possible revamp of the goods and services tax as part of an exercise to shore up revenue. The move comes at a time when tax collections have been hit, which authorities believe is due to a massive reduction in rates. The RBI had recently estimated that the effective GST rate in India has come down from 14.4% in May 2017 to 11.6% now.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2YbC1l2
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