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GST Council: Why is it better to be late than never?


It maybe noted that the GST law has been a complex one right since its inception. The government introduced it hurriedly and without complete thought. For example, the 28% GST was meant to be only for luxury and sin items, but today, even items like cement, tyre and auto components are taxed at 28%. The GST forms are difficult to understand and a nightmare to fill. Not only is the law inherently complex, but is was made worse due to multiple GST rates, which is a fertile breeding ground for tax disputes. The question is why is it better late than never? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.

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