MoS Finance Anurag Thakur hails success of GST, as it completes 4 years

On the completion of four years of the Goods and Service Tax regime, MoS Finance Anurag Thakur on Wednesday said that Prime Minister Narendra Modi government has been successful at implementing the historic law. Thakur also said that the previous system of taxation was a complex one and that in comparison the GST was easy, transparent and technology-driven.

New Delhi: On the completion of four years of the Goods and Service Tax (GST) regime, Anurag Thakur the Union Minister of State for Finance on Wednesday said that Prime Minister Narendra Modi government has been successful at implementing the historic law. "The Modi government has been successful at implementing this historic law with the thought, intention and belief with which it was passed," the minister said. Thakur said that the previous system of taxation was a complex one and that in comparison the GST was easy, transparent and technology-driven.

"Before GST, one had to file over 495 submissions, but now it can be done with just 12," the minister said. The Finance Ministry also tweeted today with the hashtag '4yearsofGST' to say that the GST has reduced the rate at which people have to pay tax. "The revenue-neutral rate as recommended by the RNR Committee was 15.3%. Compared to this, the weighted GST rate at present, according to the RBI, is only 11.6%", it tweeted."GST has replaced the complex indirect tax structure with a simple, transparent and technology-driven tax regime and has thus integrated India into a single common market.

"With the continuous simplification of procedures and rationalisation of rate structures so as to make GST compliance easy for the common man as well as the trade, we have been able to achieve economic integration of the country with a humane touch," the Ministry said. Terming the GST a success, Union minister Thakur said that over 66 crore GST returns have been filed so far for the financial year. Further, the minister said that the earlier Congress regime was indecisive. "Congress does not have the ability to make decisions. They do not even have a decision-making leader."

"It has become a game of musical chairs, one sits then second then third. Their leaders don't know whose door to knock at the time of adversity," Thakur added. The union minister also took a pot shot at Delhi Chief Minister Arvind Kejriwal. "Another name for anarchy is Arvind Kejriwal, his job is to do politics of anarchy and spread anarchy."

(ANI)