The recent Goods and Services Tax (GST) rationalisation will not have a significant fiscal burden on the government, a Crisil report has said.
The government has estimated a net loss of an annualised Rs 48,000 crore in revenue in the short term on account of GST reforms.
Total GST collections in the previous fiscal were Rs 10.6 lakh crore; hence, the loss does not seem significant, according to a Crisil Ratings report.