India Desperately Needs GST : Jaitley

Constitution Amendment Bill to roll out Goods and Services Tax has been stuck in the Upper House, thanks to stiff opposition by the Congress party.

Published: 09th December 2015 07:09 AM  |   Last Updated: 09th December 2015 07:14 AM   |  A+A-

Arun_JaitleyPTI

NEW DELHI:  Stressing the urgency for early passage of the GST Bill in the Rajya Sabha, Arun Jaitley, Minister for Finance, on Tuesday said blocking it further will be damaging for the country. The Constitution Amendment Bill to roll out Goods and Services Tax has been stuck in the Upper House, thanks to stiff opposition by the Congress party.

INDIA.jpg“It’s extremely important and all parties must come together. Now that revenue neutral rate of 15 per cent has been announced which was not even discussed...People were discussing 22, 24 per cent...India desperately needs the GST, businesses and trade need GST and anybody tries to create hurdle in the passing of GST will be doing the great damage to the country,” Jaitley said in an interview to a private channel.

The 15 per cent revenue neutral rate has been suggested by a committee headed by Chief Economic Adviser Arvind Subramanian last week.

Referring to the Congress demand for inclusion of GST rate in the Bill, Jaitley said the Bill was initiated by the Congress itself and it should help in passage in the interest of the country.

“If the Congress party intends to pass the GST and help in passing the GST which in all fairness I must concede was an initiative started by the Congress party itself, it will be doing fair to its own programme, it will be doing fair to the country,” he said.

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