CBIC Chairman Vivek Johri Foresees Reduction in Tax Rates Through Rate Rationalisation

 In an Exclusive Conversation with BTTV’s Managing Editor Siddharth Zarabi Vivek Johri Chairman CBIC discusses the report submitted by the Group of Ministers (GoM) on the removal of exemptions and the inverted duty structure. The majority of these decisions have already been put into effect, aiming to streamline the overall rate structure. The rationalization efforts are anticipated to result in a reduction in tax rates. The GoM will be re-constituted, and any recommendations that arise will be carefully considered by the council. However, predicting a specific timeline for these deliberations remains challenging at this stage. The focus is on ensuring a comprehensive and well-informed approach to rate rationalization in order to achieve desired outcomes.