Finance Minister Arun Jaitley has hit out at Congress for criticising Government over Goods and Services Tax, GST. In a Facebook post, Mr Jaitley said, Congress party which oppressed the country with a 31 per cent indirect tax and consistently belittled the GST must seriously introspect.
He said the Congress legacy of indirect tax was a 31 per cent tax and the NDA Government transiently put them in the 28 per cent slab. The Finance Minister said irresponsible politics and economics is only a race to the bottom.
He said, as the revenues kept increasing, the rates under GST were brought down and most of the commodities have seen tax reduced. Mr Jaitley said, multiple slabs were fixed transiently in order to ensure the tax on no commodity goes up radically and it contained the inflation impact.
He said, most of the items of the common man were placed in the 0 or 5 per cent tax bracket.
The Minister said, the GST from the date of its implementation, has changed the situation radically.
He said, all seventeen taxes were combined into one and the whole of India became one market. He said, the interstate barriers disappeared and entry into the cities became open with the abolition of the entry tax.