Finance Minister said that the Government will move away from the frequent rate revisions to remove ‘uncertainty’ for businesses and the government and will revise GST rates on yearly basis. She further said that frequent changes have led to an inverted duty structure. “Therefore, when the rate of tax of one item is brought down, a whole lot of other ripple effects are created. With that ripple effect, refund is affected,” Sitharaman said at a post budget interaction with reporters in Kolkata. FM further said that It will also be healthier if states through ministers voice their concern (at the Council meetings).
