Current Affairs

NK Singh Recommends Further Simplification of GST

Current context: N K Singh, Chairman of 15th Finance Commission (FC) has called for major changes in the GST (Goods and Service Tax) structure.
 NK Singh Recommends Further Simplification of GST
  • The recommendations are made to help increase revenue, foster better tax compliance, scrutinise and optimise revenue etc.
  • It focused was on simplifying the GST structure and minimising the cost compliance.
  • In order of making the 15th FC report, the FC visited nearly all states and many of them have complained that the fiscal autonomy has been circumscribed by GST.

The highlights of the recommendations are:

  • Doing away with frequent rate changes.
  • Credible policy for rationalization of Centrally- sponsored schemes.
  • Recommend distribution of revenues between union and the states and thereafter, among the states further to the 3rd tier.
  • Aligning the Fiscal and Debt path of both Centre and the states.
  • Reconsider the design and structure of a fiscal partnership between centre and states.

Question: 

Q: 1. Who is the Chairman of the 15th Finance Commission?
a. Nand Kishore Singh
b. Shaktikanta Das
c. Anoop Singh
d. Ramesh Chand
e. Ashok Lahiri
NK Singh Recommends Further Simplification of GST NK Singh Recommends Further Simplification of GST Reviewed by Shweta Kashyap on November 24, 2019 Rating: 5

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