How the shortfall in GST revenues can be bridged

Rather than tinker with the rates, the GST Council must look to levy a small tax on exports and curtail refund of input tax credit The 40th meeting of the GST Council is proposed to be held on June 12. While all the previous meetings have had their share of importance in formulating GST which still remains a work-in-progress, this meeting is critical as decisions on two major areas of concern are…