GST rate cut sends wrong signal to domestic business: Finance secretary

Finance secretary, Ajay Bhushan Pandey said to ANI that GST rate cut sends a wrong signal to domestic business/industries as well as international investors and should be done once in a year that too after intensive analysis of all sectors.

On GST rate cut, he said, "It is not necessary that industries will always benefit from a rate cut.

Recurring rate cuts won't be right for the economy.

It's against tax stability and it sends a wrong signal to domestic business/industries as well as international investors.

There should be one occasion in a year to decide this (GST rate cut) after an intensive analysis of all sectors."