There were serious birth defects in GST which got worse in last 5 years: Chidambaram
Stating that there were serious “birth defects” in the GST, which only got worse in the last five years, the Congress on Friday said the GST laws and the manner in which they are implemented have “ruined the economy” and the party GST Will work towards replacement. 2.0.
The opposition party said demonetisation was the first “tughlaqi decree” of the government while the goods and services tax was the second. Both have hurt the economy.
Senior Congress leader P Chidambaram said at a press conference here that GST is celebrating its fifth birthday on Friday but there is really nothing to celebrate. “GST had serious birth defects. These lapses have gotten worse in the last five years and all those affected by GST have been seriously injured,” said the former finance minister.
“The Congress wants to make it absolutely clear that the so-called GST implemented today was not the GST envisaged by the UPA government,” he said.
Chidambaram said, “As far as the Congress party is concerned, we reject the existing GST and as promised in the 2019 election manifesto, we will work towards replacing the existing GST with GST 2.0, which is a single , will be low-rate.” Told.
“The GST that we have today is a complex web of multiple rates, conditions, exceptions and exemptions that would completely leave even an informed taxpayer bewildered. Not all registered dealers are informed taxpayers; Consequently, they are at the mercy of the tax-collector,” he said.
He said a flawed GST has caused “massive destruction” of MSMEs, a sector that contributes up to 90 per cent of jobs in manufacturing. He said, how was the worst result of GST brought by the government, there has been a complete breakdown of trust between the Center and the states.