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Congress vindicated by GST rates cuts: Chidambaram

IANS  |  New Delhi 

Former Minister P. Chidambaram on Friday said is "vindicated" by reduction change in rates, and said that it was done because of the elections.

In a series of tweets after Minister Arun Jaitley announced that the 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 rate is capped at 18 per cent, this government would have learnt its lesson belatedly. is vindicated. I am vindicated. The merit of capping at 18 per cent is now recognised," the leader said.

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

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

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

"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 a major revamp of the tax structure, the Council on Friday removed 178 items from the highest 28 per cent category.

Only 50 products, including luxury and sin items, white goods, cement and paints, automobiles, aeroplane and yacht parts have been retained in the top 28 per cent slab.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 23:16 IST
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