CM backs GST rate rationalisation

Karnataka Chief Minister Siddaramaiah on Friday welcomed the GST Council's decision to rationalise GST rates and said the state could lose Rs 15,000-20,000 crore in revenue due to the move.

- NT Correspondent

He urged the Centre to devolve the compensation cess, still being collected on certain sin goods, back to the states.

He also stressed that the union government and the Central Board of Indirect Taxes and Customs (CBIC) must ensure that the benefits of GST rationalisation reach consumers.

"We welcome the decision of the GST Council to rationalise GST rates, an important step to reduce both the monetary and compliance burden on people and businesses," Siddaramaiah said in a statement.