GST rates still leave room for pruning

The Centre has reportedly favoured a pause in further rate cuts on the goods and services tax (GST) due to the revenue shortfall, estimated at over Rs 40,000 crore in the first quarter of this fiscal. This is hasty, on two counts. The slew of changes that have periodically been brought about show that the tax system has stabilised neither in terms of the rate structure nor in categorisation of goo…