You are here: Home » PTI Stories » National » News
Business Standard

CBI should probe fixation of "exorbitant rates" by GST

Press Trust of India  |  Panaji 

The in today demanded a probe into the matter of initial fixation of "exorbitant rates" by the Council.

In a statement here, chief Shantaram Naik said the Council had caused a "notional" loss of Rs 20,000 crore to the central and states' exchequer.

"The should, suo motu, investigate into the matter of initial fixation of exorbitant rates by the Council and now causing approximately Rs 20,000 crore loss to the Centre and states," he said.

The Central agency should start criminal proceedings against those responsible for the loss, Naik said.

The leader said the Rs 20,000 crore loss may be "notional" but the damage caused to the Centre and state governments is real.

Also, in the past, Prime Minister Modi had relied on notional losses to target the government, said Naik, who has served as Chairman of the Parliamentary Standing Committee of Department of Personnel, Public Grievances, and Justice.

"Modi gave false assurances to the nationand created a false economic picture. He is now reversing his major decisions," he said.

Naik said although the GST was originally the UPA's "baby", "irrational exorbitant rates" were not decided upon then.

Meanwhile, Chief Minister Manohar Parrikar hailed the GST Council's decision yesterday to lower taxes on a large number of items.

The powerful council, headed by Finance Minister Arun Jaitley, is a joint forum of the Centre and the states.

"Progressive decisions at the #GSTCouncilMeet. Lowering taxes on 177 items will immensely benefit the consumers as well as businesses. This shows receptiveness of the that walks hand in hand with its people on the path of progress and development," he tweeted this morning.

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

First Published: Sat, November 11 2017. 18:22 IST