New Delhi [India], July 28 (NT): Senior leader of the grand old party Congress and former finance minister P. Chidambaram on Saturday slammed the Centre for failing to efficiently implement the Goods and Service Tax (GST) in India in 2017.
Chidambaram with view said that the 28 per cent tax slab under the new tax system has only added the Excise, VAT, and CST.
On micro blogging website Twitter Chidambaram wrote, "The 28% GST rate was the contribution of a lazy BJP government that simply added the Excise, VAT, and CST,”.
In addition he took a dig at the PM Narendra Modi-led government, Chidambaram stated that the Central government intentionally did not took the note of the report submitted by the Chief Economic Advisor (CEA) and also dismissed Opposition's plea to cap GST rate at 18 per cent.
"BJP government brushed aside the report of the CEA and summarily dismissed our plea to cap GST rate at 18%. Now it claims wisdom in phasing our the 28% rate!," Chidambaram further said.
He added that scores of small and medium-sized enterprises have been devastated of the high interest rates under GST.
"Following demonetisation, the faulty implementation of GST destroyed thousands of SMEs and millions of jobs. Ask any trader or businessperson and you will know the truth. The 28% rate (and the cesses) was only one aspect of the faulty implementation of Goods and Services Tax (GST). There are other distortions that have given GST a bad name," the Congress leader said.
The GST was put in practice in July last year after months of consideration.