‘We need a graded approach to include petro products under GST’
Business new tamfitronics CBIC chairman Sanjay Kumar Agarwal says protection of industry by raising duties is not permanent. He also discusses GST rate rationalisation. Excerpts from an interview with Sidhartha & Surojit GuptaFM has spoken about fewer customs slabs, if you could use that word. Can you help us understand how it will be structured?We routinely undertake an exercise of the conditional notification.And within two years, we have to take that exercise, and in case we find that exemption need not be continued, we allow that exemption to lapse. In certain cases, this condition is waived, depending on the type of exemption that has been given. The idea is that we want to reduce the number of customs duty rates. In this Budget also, we are seeking to give impetus to...