Union Finance Minister Nirmala Sitharaman today said that the Goods and Services Tax (GST) might have some flaws and she is sorry for that.
“I wished from day 1, that it (GST) met with your satisfaction but I am sorry that it did not meet with your satisfaction,” Sitharaman was quoted as saying by news wire agency ANI.
During an interaction with businessmen, entrepreneurs, CAs & others in Pune, the Finance Minister said, “We just can’t damn GST now. It has been passed in Parliament and in all state assemblies. It might have flaws, it might probably give you difficulties but I’m sorry, it’s the ‘kanoon’ of the country now.”
Suddenly we cannot say, ‘what a goddamn structure is this, the finance minister further added.
GST, which was introduced on July 1, 2017, replaced the unwieldy mess of excise duties, state taxes, octroi, VAT, service tax, cesses and specific duties.
It has been hailed by the government and the industry as one of the biggest reforms since the liberalisation of 1991. However, many have also pointed out its “shoddy” implementation along with the infamous demonetisation move behind India’s current slowdown.
Source: Economic Times