Jaitley defends multiple GST slabs, says single slab would make Mercs & BMWs cheaper
Jaitley
'Does Congress want to make BMWs & Mercedes cheaper?' Jaitley asked
Finance Minister Arun Jaitley on Wednesday defended the multiple slabs under the Goods and Services Tax.
The GST -- which was meant to replace India's myriad indirect taxes with one single tax -- has come under severe criticism.
Traders say it is convoluted, the government's critics say it was a second "shock" (after demonetisation) to the economy, and economists question its multiple slabs.
Why would a single tax have multiple slabs they ask.
Jaitley told ANI Wednesday that bringing everything under 18% GST would help those buying luxury items.
And he took a potshot at the Congress, asking whether they wanted to make Mercedeses and BMWs cheaper?
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"Bringing everything under 18% (GST) is helping those who spend on luxury items. Does Congress want to make BMWs & Mercedes cheaper?" Jaitley asked.
He took another potshot at the Congress's senior leaders, saying they knew little about the intricacies of the GST.
"I think finance ministers of Congress states know about slabs of GST. National-level leaders of Congress speaking on it, perhaps know less about it," he said.
He also took a potshot at the Congress over the condition of India's public sector banks.
"This conditions of banks was given to us as inheritance and as a solution it was necessary to pump in funds," Jaitley said.
Jaitley's team had on Tuesday announced what they called an "unprecedented"recapitalisation of the country's public sector banks to boost the economy.
Jaitley and the government have copped a lot of flak of late over the health of the economy, with the critics blaming demonetisation and GST for its current health.
On Wednesday, Jaitley said a "lot of relief" had been given over GST.
"Lot of relief has been given, from filing quarterly returns to 1% tax for turnover under 1 crore, a lot has been done for relief," he said.
He also said the sops were in no way connected to the upcoming Gujarat elections. Thatthey were long-term reforms.