India News | Govt Will Strive to Further Simplify, Rationalise GST Tax Structure: FM

New Delhi, Jul 23 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said the government will strive to further simplify, and rationalise GST (Goods and Services Tax), a move which would help promote ease of doing business.

The government also proposed to rationalise customs duty rates.

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The minister announced customs duty exemptions on three more cancer treatment drugs.

She added that GST has decreased tax incidence on the common man, and reduced logistics cost for industry.

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GST was rolled out on July 1, 2017. It subsumed 17 taxes and 13 cesses into a 5-tier structure, thereby, simplifying the tax regime.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)