The Indian Wire » Business » Government keen on bringing 99% items under sub-18% GST slab : PM
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Government keen on bringing 99% items under sub-18% GST slab : PM

Prime Minister Narendra Modi, addressing the Republic Summit today, said that his government is working towards achieving the goal of bringing 99 percent things used by a common man under the sub-18 percent GST slab.

“Today, the GST system has been established to a large extent and we are working towards a position where 99 percent things will attract the sub-18 percent GST slab,” Modi said.

He also said that the 28 percent slab of GST would include only specific things, like luxury items.

Before implementation of the Goods and Services Tax (GST), registered enterprises only numbered 65 lakh, which has now risen by 55 lakh, Modi said.

PM added, “We are of the opinion of making GST as smooth as possible for the enterprises,”

“In earlier days, the GST was framed according to the existing VAT or excise tax structures exercised in those respective states. (With) the discussions held from time to time, the tax system is getting improved,”

“The country was demanding GST for decades. I am pleased to say that GST implementation has removed contradictions in the trade market and the efficiency of the system is improving. The economy is also getting transparent,”

Modi said that tax reform in a developed country is not easy. With the GST topic, he also talked about corruption and how his government has been able to achieve a better economic condition and has been working towards building ‘a new India’.

Talking about corruption he said, “Corruption had been taken as a new normal in India. It was ‘Chalta hai’. Whenever anyone used to speak up, someone would say, ‘This is India. This is how it is’. Why should it be like this?”

“When companies used to be unable to repay loans, nothing used to happen to them and their owners. That is because since the start they had been given protection from probes by certain ‘special people’,” he added.

He also indicated the government’s initiatives to provide gas connections to the households, saying, “Till 2014, only 55 percent houses in the country had a gas connection. Imagine that. Our government is working towards finding permanent solutions and ending those practices that have held progress back for decades,” he said.

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