Economic Advisory Chairperson: 10 years time for GST to settle down

New Delhi, March 19: Prime Minister's Economic Advisory Council Chairperson Bibek Debroy on Monday said the implementation of the Goods and Services Tax (GST) is a process which would take more than 10 years to settle down.

"GST is a process and if we expect that the entire process will settle down in anything less than 10 years, then we are being unrealistic," Debroy said at the annual general meeting of India International Chamber of Commerce.

He said only seven countries in the world had actually implemented the GST system in its true form out of which, five had unitary GST and only two countries, including India, had implemented a federal GST.