The need now is to shift to a simpler rate structure

The decisions concerning the GST Law and Procedures, taken at the recently concluded 39th GST Council meeting, were on expected lines. The due date for filing FY19 annual returns was postponed to June 30, 2020. Elsewhere in the world, there is no concept of annuality in VAT / GST. An annual return is a direct taxes concept where a taxpayer is assessed for their annual income. For consumption taxes…