New Delhi: Today Finance Minister Arun Jaitley explained the Goods and Services Tax (GST) as a “win-win” deal for all as it enlarge the tax net, end “inspector raj” and reduce prices of goods.
Diving GST as beneficial for the nation at gathering of the BJP parliamentary party attended by Prime Minister Narendra Modi, senior heads and party MPs, Finance Minister further conveyed that as the GST roll-out on 1st July, the prices of goods reduced between four to eight per cent.
Parliamentary Affairs Minister Ananth Kumar described reporters about the gathering in which Foreign Minister Sushma Swaraj also knowledgeable Parliamentarians about PM Modi’s current foreign trips, particularly to the US and Israel.
Finance Minister further conveyed that, the GST was in the notice of people and states, and the latter will get 80 per cent of the revenue foremost to more expansion. There was no longer tax and the transport of goods crossways the nation was going unimpeded currently.
More than one crore firms migrating to the new tax reform against about 80 lakh corporations former. Jaitely further added that, the Tax net has extended. The nation’s market has been integrated. The tax burden on the masses has reduced. It is a win-win situation for all. BJP MPs were also asked to attend the Houses repeatedly.