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July 2018
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Business News
GST win-win deal for all: Jaitley
 
New Delhi, Jul 19 (PTI) Finance Minister Arun Jaitley today said the Goods and Services Tax (GST) was a "win-win" deal for all as it would expand the tax net, end "inspector raj" and bring down the prices of goods.

While he spoke on the GST at the BJP parliamentary party meeting, External Affairs Minister Sushma Swaraj briefed party MPs on the recent foreign visits of Narendra Modi and said no visiting Indian prime minister had received the kind of welcome accorded to him by US President Donald Trump during his recent to that country.

"It was unprecedented," BJP sources quoted her as saying at the meeting.

Pitching the GST as a measure beneficial for the country, Jaitley said the prices of goods had come down between four to eight per cent since its roll-out on July 1.

Parliamentary Affairs Minister Ananth Kumar briefed reporters about Jaitley's remarks.

The GST was in the interest of people and states as well as the latter would get 80 per cent of the revenue leading to more development, Jaitley said.

There was no longer tax on tax and the transport of goods across the country was going unhindered now, he said.

More than one crore firms were expected to be migrating to the new tax regime against around 80 lakh companies earlier, Kumar quoted him as saying.

"The tax net has expanded. The country's market has been integrated. Inspector raj is over. The tax burden on the masses has gone down. It is a win-win situation for all," Kumar quoted the finance minister saying.

BJP sources said Swaraj highlighted various aspects of Modi's visits to the US, including a working dinner at the White House, Trump giving him a guided tour of his residence, and said it was a rare honour for a visiting Indian prime minister.

She also noted that Israeli Prime Minister Benjamin Netanyahu took Modi out on a drive on a beach.

Kumar asked the BJP members to ensure their presence here during the vice presidential election on August 5, which is a Saturday.

Parliamentarians hailing from different states often leave the national capital during sessions on Friday evening and come back by Monday.


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