Revenue losses, no compensation cess seen to be reasons for GoM wanting to retain current GST rate structure

Concerns over potential revenue losses as well as fiscal autonomy are seen to be the main reasons why the Group of Ministers (GoM) on rate rationalisation has proposed continuing with the current rate structure for the goods and services tax. According to sources, the issue is likely to be taken up at the upcoming meeting of the GST Council on September 9, but it is unlikely that there will be any…