Finance Minister Arun Jaitley lately described the goods and products and services Tax (GST) as a "win- win" deal for all as it will amplify the tax net, end "inspector raj" and produce down costs of products.
Pitching the GST as a measure a good option for the u . s . a . at a gathering of the BJP parliamentary birthday party attended by means of high Minister Narendra Modi, senior leaders and party MPs, Jaitley said costs of goods has come down between 4 to 8 per cent since its roll-out on July 1.
Parliamentary Affairs Minister Ananth Kumar briefed journalists about the meeting in which external Affairs Minister Sushma Swaraj also informed parliamentarians about Modi's recent overseas visits, particularly to america and Israel.
The GST was in the passion of people and states as well as the latter will get 80 per cent of the revenue leading to extra construction, Jaitley said.
There was once now not tax on tax and the transport of products throughout the us of a was once going unhindered now, he mentioned.
a couple of crore corporations can be migrating to the brand new tax regime against round 80 lakh firms previous, he stated, Kumar quoted him as saying.
"Tax web has expanded. The country's market has been integrated. Inspector raj is over. The tax burden on the plenty has gone down. it's a win-win state of affairs for all," the finance minister mentioned.
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