Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

GST an RSS Tax, Has Become a Bad Word Among Citizens: ex-Finance Minister P Chidambaram

Every step taken by the BJP government, starting from the GST Constitution Amendment Bill, with regard to the tax was deeply flawed, Chidambaram alleged.


Updated:July 1, 2018, 9:13 PM IST

New Delhi: On the anniversary of the GST regime, former finance minister P Chidambaram lambasted the tariff by terming it an ‘RSS tax’. He further said that Goods and Services Tax had led to an increase in tax burden and had become a ‘bad word’ among the people.

"GST means one tax rate only. If (it has) multiple rates, call it 'RSS tax'... It is an undeniable fact that GST has not yet had a positive impact on economic growth," Chidambaram told reporters at the party's office.

"The design, structure, infrastructure backbone, rate or rates and implementation of the GST were so flawed that GST has become a bad word among business persons, traders, exporters and the common citizens," he said.

The only section that appears to be happy about the GST is the tax administration that has acquired "extraordinary powers that frighten" the average business person and the common citizen, he said.

"It is widely perceived that GST has increased the tax burden of the common citizen. It has certainly not reduced the tax burden as was promised," he said.

Every step taken by the BJP government, starting from the GST Constitution Amendment Bill, with regard to the tax was deeply flawed, he alleged.

Chidambaram claimed that the government even ignored the advice of the chief economic adviser on many aspects of the GST, notably on the rates.

Underlining that the Congress was the original proponent of the GST and it was first proposed by the UPA in 2006, the four-time finance minister said experts should be given a free hand in overhauling the indirect tax structure.

"Mr Fixits have been at work in reforming the GST. As the original proponent of the GST, the Congress party hopes that the task of thoroughly overhauling the GST will be entrusted to experts," he said.

He also gave a number of suggestions for better implementation of the indirect tax regime, including bringing petroleum products under its ambit.

The tax rates should be gradually reduced to a single rate with an exemption for truly "merit goods and services" (that add to the welfare of the society), he said, adding that a single rate must not exceed 18 percent.

"Only one return must be required to be filed once in a quarter. The process of refund must be streamlined and refunds must be expedited, releasing blocked capital," Chidambaram said.

(With PTI Inputs)

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Aditya Nair
Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
Yes Bank 56.30 -13.91
LIC Housing Fin 414.00 -10.66
Indiabulls Hsg 450.55 -6.82
DLF 144.45 -15.82
Maruti Suzuki 6,208.55 -0.33
Company Price Change %Gain
LIC Housing Fin 412.85 -10.97
Yes Bank 56.30 -13.91
DLF 144.30 -15.91
Indiabulls Hsg 449.90 -6.82
Tata Steel 333.35 -2.83
Top Gainers
Company Price Change %Gain
Britannia 2,440.75 2.36
Dr Reddys Labs 2,545.40 1.69
Tech Mahindra 682.75 1.48
TCS 2,216.00 1.36
HUL 1,872.10 1.19
Company Price Change %Gain
TCS 2,214.90 1.33
HUL 1,869.00 1.03
HCL Tech 1,078.00 0.58
Top Losers
Company Price Change %Gain
Yes Bank 56.30 -13.91
Vedanta 129.05 -7.79
Indiabulls Hsg 450.55 -6.82
Bajaj Finserv 6,767.35 -5.30
Bajaj Finance 3,114.10 -4.52
Company Price Change %Gain
Yes Bank 56.30 -13.91
Vedanta 129.05 -7.76
Bajaj Finance 3,117.80 -4.39
Coal India 180.70 -4.26
Tata Motors 107.65 -4.14

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results