Revenue Neutral Rate Gst India
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Since the gst is primarily intended as an exercise in reforming the consumption tax in india and not an exercise for additional resource mobilisation through discretionary changes the cgst and sgst rates should be such rates which would yield the same revenue as collected from the various taxes which will be subsumed in the cgst and sgst that is it should be a revenue neutral rates.
Revenue neutral rate gst india. The rate structure on which there is a lot of discussion going on at the moment with the gst council and also in the public domain. Asserting that the government is determined to implement gst from the next fiscal economic affairs secretary shaktikanta das on tuesday expressed confidence that the revenue neutral rate structure will be decided the next month. This implies that government tax revenue will come down when india moves to the gst regime. Today we are going to understand what exactl.
This increased tax rate has been called the revenue neutral rate rnr. Revenue neutral rate structure to be finalised next month. Allowing for some leakages the combined rnr could be in the range of 12. Gst sub panel backs revenue neutral rate of almost 27 4 min read.
What should be the revenue neutral rate. With perspective of gst in india revenue neutral rate rnr is a factor to balance tax revenue of government when gst implements in india. Now in the context of gst revenue neutral rate is the rate at which tax revenue of the central government and state government will remain the same under proposed gst as is under the present indirect tax structure in india. Will get resolved in the.
The rnr for the centre is 5 and for the states 6 3. I have made it abundantly clear to the government of india because that will be in the true spirit of cooperative federalism. Understanding revenue neutral taxation adarsh madrecha 2014 11 14t23 55 00 08 00 5 0 stars based on 350 reviews you might have heard that gst rates will be decided on the principle of revenue neutrality. Asserting that the government is determined to implement gst from the next fiscal economic affairs secretary shaktikanta das on tuesday expressed confidence that the revenue neutral rate.
Asserting that the government is determined to implement gst from the next fiscal economic affairs secretary shaktikanta das today expressed confidence that the revenue neutral rate structure will be decided the next month. These values yield a revenue neutral gst rate of approximately 11 200 as per cent of 1 763 is 11 3.
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