Balagopal: Centre must ensure firms pass GST cut gains to consumers

Asserting that there was no guarantee that the Goods and Services Tax (GST) rate cuts would benefit consumers, Finance Minister K N Balagopal urged the Centre to ensure companies actually pass on the gains.

- Express News Service @T'Puram

Speaking after the GST Council meeting in Delhi on Wednesday, Balagopal maintained that while many states, including Kerala, supported rationalisation of rates, the Centre failed to put mechanisms in place to protect consumers as well as compensate states for the huge revenue loss.