Center to reduce TPS installments soon

Chief Economic Advisor (ECA) Arvind Subramanian has suggested that the Goods and Services Tax (GST) will have fewer slabs in the future. He predicts the exercise of making existing tax slabs 12 percent and 18 percent in one. At the same time, it is almost certain that it will not be possible to have a single GST plate.

Arvind Subramanian assures that the GST system that was put in place as of July 1 of this year will stabilize in the next 6 to 9 months. He firmly believes that foreign countries will try to emulate India's GST model in the future.

Asked about the problems of implementing the GST, Subramanian says they are supposed to take into account the complex tax system in India. However, he believes that the Center should have implemented much more effectively. "It is the work of the GST Board to ensure that failures are resolved as soon as possible," he said.

Four GST blocks have confused merchants and consumers. The NDA government has received criticism from the opposition over too many slabs.