Arun Jaitley, Central Finance Minister hit back at allegations over GST linking connecting with Gujarat Election. He rejected the claims by the opposition and said it is “juvenile politics” to link GST to any election or political demand.
Finance Minister Arun Jaitley debunked Congress Vice President Rahul Gandhi’s allegation that it forced the government to lower tax on over 200 goods, saying rationalization of rates was in works for 3-4 months. He also added that there is scope for further rationalization of rate but it will be decided after analyzing the revenue collected from the Goods and Services Tax (GST) implemented from July this year.
The GST Council, which Jaitley heads, had last week brought down tax rate on 178 products from 28 percent to 18 percent. However, Congress has made high tax rates and increased compliance burden in the GST regime an election issue in the upcoming Assembly Elections in Gujarat and claimed credit for the move.
Jaitley said the government expects all the tax rate benefit to be passed on to consumers, helping bring down inflation. “This is the advantage of an efficient tax system,” he added.
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