Single Rate GST Structure Possible Once India Achieves Income Parity

India could move towards a single Goods and Services Tax (GST) rate structure once the country achieves income parity across different segments of society, Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal said in an exclusive interview.

- TDG NETWORK

Speaking about the GST framework's future evolution, Agarwal explained that while a single rate would be ideal, the current multi-tier structure serves a social purpose.

"Presently we have one standard rate and other merit rate. Merit rate has been kept lower than the standard rate keeping in mind that in our society, there are different segments and to make things affordable, a merit rate has been kept for daily use items of common man," he said.