Look at Existing Levy Before Seeking GST Rate Cut: Arun Jaitley

Finance Minister Arun Jaitley on Thursday asked industry to look into the existing incidence of indirect tax before seeking reduction in Goods and Services Tax rates as proposed by the GST Council. He further said that industry should gear itself for GST, which the government proposes to roll out from July 1. "We are passing through a stage where the government is ahead of the industry. I will exp…