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1-min read

Chidambaram Sees BJP's Mission Gujarat in GST Rejig

In a series of tweets after Finance Minister Arun Jaitley announced that the GST Council has decided to slash tax slabs for 178 items from 28 per cent to 18 per cent, Chidambaram said that the rate has been "capped" at 18 per cent.

News18.com

Updated:November 11, 2017, 3:06 PM IST
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Chidambaram Sees BJP's Mission Gujarat in GST Rejig
File photo of former Union Finance Minister P Chidambaram. (Photo: Reuters)

New Delhi: Former finance minister P Chidambaram on Friday said the Congress is "vindicated" by reduction change in GST rates, and said that it was done because of the Gujarat elections.

In a series of tweets after Finance Minister Arun Jaitley announced that the GST Council has decided to slash tax slabs for 178 items from 28 per cent to 18 per cent, Chidambaram said that the rate has been "capped" at 18 per cent.

"When GST rate is capped at 18 per cent, this government would have learnt its lesson belatedly. The Congress is vindicated. I am vindicated. The merit of capping GST at 18 per cent is now recognised," the Congress leader said.

The Congress had demanded a cap of 18 per cent for all taxes under the Goods and Services Tax regime.

"Thank you, Gujarat. Your elections did what Parliament and common sense could not do," he said.

Chidambaram added that the next goal for Congress is to push for one rate.

"Congress party's next goal will be to push for one rate: RNR (Revenue Neutral Rate) with an RNR plus and an RNR minus," he said.

In the biggest GST rejig yet, tax rates on over 200 items, ranging from chewing gum to chocolates to beauty products, wigs and wrist watches, were cut on Friday to provide relief to consumers and businesses amid an economic slowdown.

As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, both air-conditioned and non-AC.

(With agency inputs)

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| Edited by: Puja Menon
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