Centre Projects ₹47,700 Crore Revenue Loss Amid GST Rate-Rationalisation - Live Law

The Centre has estimated a Net Negative Revenue loss of ₹ 47,700 crore due to GST rate-rationalisation. However, it was clarified that shift from 28% to the 40% tax bracket were projected to account for an additional revenue of approximately ₹45,570 Crore. The Finance Ministry in response to whether a Group of Ministers were to be constituted by the GST Council to address the...