Kelkar said at the event that given the present situation in the Indian economy, reviving growth was far more important than anything else in meeting various objectives. Shah said that at the current level of state capability in India, it was better for the state to do fewer things but do them well. The event was also attended by former Prime Minister Manmohan Singh, who did not speak.
“There will be a big robust chapter on GST in our final report. We have very vital things to say about how the revenue behavior takes place. So from this point of view we have a strong stake in how future of the GST pans out,” the official said.
The official said that GST needed to be revenue neutral and that the GST Council needed to move from multiplicity of rates to one standard rate. “A huge amount of simplification of procedures is needed to make compliance easier for a small scale industry guy, so that he does not have to employ a chartered accountant to fill forms. You also need to give it predictability and certainty because you cannot have predictability if you have many changes,” the official said.