NEW DELHI: Prime Minister Narendra Modi ruled out one product and services tax (GST) rate saying milk and Mercedes cars couldn’t be taxed at a similar rate and slammed Congress for suggesting one rate which might build normally used food things costlier.
“It would are terribly easy to possess only one slab however it might have meant we tend to couldn’t have food things at 1/3 charge per unit. will we’ve got milk and Mercedes at a similar rate?” Modi asked in an interview to ‘Swarajya’ magazine at the same time as the NDA government marked july 1 as ‘GST Day’ + . The ambitious tax reform live was launched on july 1 last year.
“So, when our friends in Congress say that they’re going to have only one GST rate, they’re effectively saying they’re going to tax food things and commodities, that are presently at zero or 5-hitter, at 18%,” Modi said.
The government is confident that the tax rate has stable and didn’t produce large-scale disruptions as feared because it came shut on the heels of the demonetisation drive. it’s additionally not stoked worth pressures as had been expected delivery a lot of required relief for the govt. battling criticism for implementation hurdles in rolling out the ambitious tax live.
Detailing advantages of GST, Modi said there was an enormous addition in variety of enterprises registered that from independence till recently stood at sixty six lakh. “In only one year when the introduction of GST, the quantity of latest enterprises registered is 48 lakh. Around 350 large integer invoices were processed and eleven crore returns were filed. Would we be looking at such numbers, if GST were so very advanced,” he asked.
