GST rate rationalisation challenging due to socio-economic, revenue considerations: CBIC Chairman

The ongoing exercise of rationalising Goods and Services Tax (GST) rates is proving to be a challenging task, given the multiple socio-economic and revenue factors involved, said Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Agarwal. He highlighted that while rate adjustments are aimed at simplifying the tax structure, balancing revenue needs and socio-economic compulsions rem…