FM Arun Jaitley: GST has potential to boost India’s GDP; will check double taxation of goods

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NEW DELHI: Emphasising the importance of Goods and Services Tax (GST), Finance Minister Arun Jaitley on Wednesday said, “GST has the potential to boost India’s GDP. GSTwill check double taxation of goods.”

Addressing the Lok Sabha, FM Jaitley said, “The whole country will become a seamless market. Goods will move seamlessly between states.” “The entire GST process has taken over 12 years. GST will bring in uniformity in taxation across the country,” Jaitley stressed.

Calling GST a destination tax, Jaitley said, “There will be no tax on tax. It will reduce prices in the long run and boost economic growth,” Jaitley pitched. Slamming Opposition for its stand on GST Bill, Jaitley said, “A bill is not a dancing instrument that it will jump from one standing committee to another.”

Congress floor leaders Ghulam Nabi Azad and Anand Sharma met Rajya Sabha ChairmanHamid Ansari and parliamentary affairs minister Venkaiah Naidu on Tuesday and insisted that the party wanted the goods and services tax bill to be sent to the select committee of the House. This demand was made on a day when the government went ahead with the Constitution amendment bill in the Lok Sabha by rejecting the Opposition demand for it to be referred to a standing committee.

With the government enjoying a two-thirds majority in the Lok Sabha, passage of GST bill in the House is certain, even though friendly parties such as AIADMK and Left, too, backed Congress stand. Later party chief Sonia Gandhi and Rahul Gandhi attended a meeting of the executive committee of the Congress Parliamentary Party, which also decided the party must insist the GST bill must be sent to the Rajya Sabha select committee.

The line-up in the Lok Sabha saw AIADMK and BJD too demanding the bill be sent to the standing committee, indicating that government representatives have not yet succeeded in buying peace with either J Jayalalitha or Navin Patnaik.

 

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