Tough tasks ahead

GST Council must focus on rationalising the tax system

The Goods and Services Tax (GST) Council will meet next Thursday under a new chairperson, Finance Minister Nirmala Sitharaman. This will be the 35th meeting of the Council and the first after the formation of the new government at the Centre. The meeting is significant because it will be held just about 10 days before the completion of two years of the GST regime, which started on July 1, 2017. During this period, the new indirect tax regime has settled down as a relatively stable tax system, even though its many design defects and procedural glitches continue to be problematic