Bibek Debroy, chairman of the Prime Minister's Economic Advisory Council (EAC-PM), says that the government is losing revenue due to the Goods and Services Tax (GST). It should be revenue neutral with one rate. However, GST has also made things a lot easier, he said at an event.

Debroy said, the ideal GST is one that has a single rate and was intended to be revenue neutral. When GST was first introduced, the average rate should have been at least 17%. But the current rate is 11.4%. In such a situation, the government is losing revenue due to GST. He said that along with the people, the members of the GST Council also want the 28% tax rate to be reduced. But nobody wants zero and 3% tax rates to go up. So we will never have a simplified GST.