<p>Finance Minister Arun Jaitley on Wednesday defended the multiple slabs under the Goods and Services Tax.&nbsp;</p>

<p>The GST -- which was meant to replace India&#39;s myriad indirect taxes with one single tax -- has come under severe criticism.</p>

<p>Traders say it is convoluted, the government&#39;s critics say it was a second &quot;shock&quot; (after demonetisation) to the economy, and economists question its multiple slabs.&nbsp;</p>

<p>Why would a single tax have multiple slabs they ask.&nbsp;</p>

<p>Jaitley told ANI Wednesday that bringing everything under 18% GST would help those buying luxury items.&nbsp;</p>

<p>And he took a potshot at the Congress, asking whether they wanted to make Mercedeses and BMWs cheaper?&nbsp;</p>

<p>&quot;Bringing everything under 18% (GST) is helping those who spend on luxury items. Does Congress want to make BMWs &amp; Mercedes cheaper?&quot; Jaitley asked.&nbsp;</p>

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<p dir="ltr" lang="en">Bringing everything under 18% (GST) is helping those who spend on luxury items. Does Congress want to make BMWs &amp; Mercedes cheaper?: Jaitley <a href="https://t.co/ISYskznsd0">pic.twitter.com/ISYskznsd0</a></p>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/923108287553323008?ref_src=twsrc%5Etfw">October 25, 2017</a></blockquote>
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<p>He took another potshot at the Congress&#39;s senior leaders, saying they knew little about the intricacies of the GST.&nbsp;</p>

<p>&quot;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,&quot; he said.&nbsp;</p>

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<p dir="ltr" lang="en">Congress had adequate opportunity to be in power, and I cant recollect a single significant step that they ever took against black money: FM <a href="https://t.co/yTxZjvZlhB">pic.twitter.com/yTxZjvZlhB</a></p>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/923138919461396480?ref_src=twsrc%5Etfw">October 25, 2017</a></blockquote>
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<p>He also took a potshot at the Congress over the condition of India&#39;s public sector banks.&nbsp;</p>

<p>&quot;This conditions of banks was given to us as inheritance and as a solution it was necessary to pump in funds,&quot; Jaitley said.&nbsp;</p>

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<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> Live: Finance Minister Arun Jaitley speaks to ANI on economy, Kashmir &amp; other issues. <a href="https://t.co/0SAQzFCBd2">https://t.co/0SAQzFCBd2</a></p>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/923119368535339009?ref_src=twsrc%5Etfw">October 25, 2017</a></blockquote>
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<p>Jaitley&#39;s team had on Tuesday announced what they called an &quot;unprecedented&quot;&nbsp;recapitalisation of the country&#39;s public sector banks to boost the economy.&nbsp;</p>

<p><a href="http://www.wionews.com/business-economy/india-approves-324-billion-state-bank-recapitalisation-plan-22838" target="_blank">Also read:&nbsp;Public sector banks to get Rs 2.11 lakh crores over next two years </a></p>

<p>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.&nbsp;</p>

<p>On Wednesday, Jaitley said a &quot;lot of relief&quot; had been given over GST.&nbsp;</p>

<p>&quot;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,&quot; he said.&nbsp;</p>

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<p dir="ltr" lang="en">Lot of relief has been given, from filing quarterly returns to 1% tax for turnover under 1 Cr, a lot has been done for relief: FM <a href="https://twitter.com/hashtag/GST?src=hash&amp;ref_src=twsrc%5Etfw">#GST</a> <a href="https://t.co/JmJz0R35Ky">pic.twitter.com/JmJz0R35Ky</a></p>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/923114603495616513?ref_src=twsrc%5Etfw">October 25, 2017</a></blockquote>
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<p>He also said the sops were in no way connected to the upcoming Gujarat elections. That&nbsp;they were long-term reforms.&nbsp;</p>

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'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? "Bringing everything under 18% (GST) is helping those who spend on luxury items. Does Congress want to make BMWs & Mercedes cheaper?" Jaitley asked. Bringing everything under 18% (GST) is helping those who spend on luxury items. Does Congress want to make BMWs & Mercedes cheaper?: Jaitley pic.twitter.com/ISYskznsd0 — ANI (@ANI) October 25, 2017 × 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. Congress had adequate opportunity to be in power, and I cant recollect a single significant step that they ever took against black money: FM pic.twitter.com/yTxZjvZlhB — ANI (@ANI) October 25, 2017 × 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. #WATCH Live: Finance Minister Arun Jaitley speaks to ANI on economy, Kashmir & other issues. https://t.co/0SAQzFCBd2 — ANI (@ANI) October 25, 2017 × Jaitley's team had on Tuesday announced what they called an "unprecedented" recapitalisation of the country's public sector banks to boost the economy. Also read: Public sector banks to get Rs 2.11 lakh crores over next two years 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. Lot of relief has been given, from filing quarterly returns to 1% tax for turnover under 1 Cr, a lot has been done for relief: FM #GST pic.twitter.com/JmJz0R35Ky — ANI (@ANI) October 25, 2017 × He also said the sops were in no way connected to the upcoming Gujarat elections. That they were long-term reforms.

Jaitley defends multiple GST slabs, says single slab would make Mercs & BMWs cheaper

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Jaitley defends multiple GST slabs, says single slab would make Mercs & BMWs cheaper