On being asked about exemptions under Goods and Services Tax (GST), CBEC Chief said that every exemption distorts the structure and on that there is a complete agreement and consensus. The lesser the exemptions the better.
Having said that everybody is aware of the fact that there are several exemptions which have long gestation period which will continue to be there, so how do we address them? We could address them through multiple routes, we could address them by phasing them out over a period of time, we can address them by perhaps giving extra funds, those are decisions which the GST council will be taking and you will get to know soon.
Source: CNBC TV18