28% GST rate added the Excise, VAT and CST: Chidambaram
New Delhi [India], July 28 (ANI): Senior Congress leader and former finance minister P. Chidambaram on Saturday criticised the Centre for failing to effectively implement the Goods and Service Tax (GST) in India in 2017.
Taking to Twitter, Chidambaram was of the view that the 28 per cent tax slab under the new tax regime has only added the Excise, VAT, and CST.
"The 28% GST rate was the contribution of a lazy BJP government that simply added the Excise, VAT, and CST," the former finance minister wrote.
Further taking a dig at the Narendra Modi-led government, Chidambaram said that the Central government deliberately did not take a note of the report filed by the Chief Economic Advisor (CEA) and also dismissed Opposition's plea to cap GST rate at 18 per cent.
"BJP government brushed aside the report of the CEA and summarily dismissed our plea to cap GST rate at 18%. Now it claims wisdom in phasing our the 28% rate!," added Chidambaram.
The former finance minister also said that scores of small and medium-sized enterprises have been shattered because of the high interest rates under GST.
"Following demonetisation, the faulty implementation of GST destroyed thousands of SMEs and millions of jobs. Ask any trader or businessperson and you will know the truth. The 28% rate (and the cesses) was only one aspect of the faulty implementation of Goods and Services Tax (GST). There are other distortions that have given GST a bad name," said the Congress leader.
The GST was rolled out in July last year after months of deliberation.
Launched at midnight on June 30 by Prime Minister Modi and then President Pranab Mukherjee, the taxation scheme aimed at bringing all taxes into a single window along the lines of the 'One Nation - One Tax - One Market goal. (ANI)
This story has not been edited. It has been published as provided by ANI
National Unity Day: A tribute to Sardar Patel | Master Stroke
What all changed after J&K officially bifurcated into 2 UTs? | Master Stroke
Israeli spyware Pegasus snooped on Indian Journalists through Whatsapp | Master Stroke
Maharashtra: Shiv Sena's Sanjay Raut Meets Sharad Pawar
Drill displays IED diffused with the help of a robot by NSG
Article 370 only gave separatism and terrorism to J&K: PM Modi in Kevadiya
Let us work towards making India $5 trillion economy: Modi To Trainee Civil Servant | Full Speech
Radio Stations in Jammu, Srinagar and Leh renamed
Jammu and Kashmir to witness 'Acche Din'? | Seedha Sawal
Expert advice on how to survive poor air quality in Delhi-NCR