Finance Minister Arun Jaitley has called Congress Vice President Rahul Gandhi’s idea of a single GST slab a “stupid idea”. He further attacked the UPA government for 'leaving behind a legacy of 31% indirect Tax on most items'. Taking to Twitter, he also stated that GST has already reduced 334 items to 12% and 18% slab.
Earlier in the day, Rahul Gandhi made a desperate attempt to take credit for the announcement made by PM Modi that 99% of goods and services would soon fall under the 18%-or-less GST slab at Republic Summit.
Taking to Twitter, the Congress president said that the announcement had resulted from the Congress 'jolting the Prime Minister from a deep slumber'. He reiterated his Gabbar Singh Tax acronym attack and wrote:
The rollout of GST had been preceded by numerous meetings of the GST Council, where the Centre and states had come together to decide a formula by which states would not take a hit on their tax revenue because of the massive 'one country-one tax' reform. At the Republic Summit, Finance Minister Arun Jaitley also more than hinted that this was the reason why petroleum products haven't yet been integrated into GST -- because the states aren't yet confident that they won't lose out.