Congress brought suggestion on GST rate cap much later: Jaitley

Image
IANS New Delhi
Last Updated : Aug 08 2016 | 7:48 PM IST

Finance Minister Arun Jaitley on Monday hit out at the Congress, saying the 18 per cent cap on Goods and Services Tax (GST) was suggested by the party when the bill was passed in the Lok Sabha and later tabled in the Rajya Sabha.

"The concept of cap on GST was a subsequent development. The cap was not discussed in 2006 and in the successive years. Even when the Congress left in 2014, nowhere was the cap suggestion made.

"The suggestion on cap was adopted by Congress after 2015, when the bill went to the Rajya Sabha," he said during the debate on the bill in the Lok Sabha.

Earlier, Leader of the Congress in the Lok Sabha Mallikarjun Kharge took a dig at Prime Minister Narendra Modi by saying that he had opposed the bill when he was Gujarat Chief Minister, calling it "retrogade in nature".

"We were the creators of GST. We were the first to bring GST. We support it. Those who are passing the GST now, why were opposing it, when they were in the opposition," asked Kharge.

"Had they agreed to our conditions on GST earlier, the delay wouldn't have happened. We were never against GST. We always wanted to pass it. It is wrong to say that we blocked the GST bill," he added.

--IANS

sid/vd/dg

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 08 2016 | 7:32 PM IST

Next Story