Budget 2021: Striking a balance between GST rationalisation and boosting economic growth

Post implementation of GST, the GST Council has reduced GST rates umpteen number of times for various goods and services while simultaneously attempting to keep revenue collections on track. As a result, most goods in the 28% bracket have been brought down to 12 or 18%. Thus, at present very few items like luxury goods, and certain high revenue items such as cement, tyres, passenger vehicles and s…