P. Chidambaram Objects Indirect Tax Continuation in Front of GST

The former union finance minister P. Chidambaram was seen directing the government to cut the indirect taxes as an agenda to increase the demands and also called for a rationalization over its advice on the newly affected goods and service tax. In this context, he said that “GST is not around the corner. Not coming anywhere before October 1.”

He was very dismissive about it and counted the issue on the part of current union minister Arun Jaitley to not to haul the indirect taxes in the union budget as of now. He mentioned that “I would have cut indirect taxes. That’s the best way to boost aggregate demands. Nine out of ten economists will tell you to do that.”

Along with this, he talked about various topics, “In August last year, Goods and Services Tax (GST) bill, a proposed system of indirect taxation, was passed which will merge most of the existing taxes into a single system of taxation..” But in addition told that “The budget was presented on February 1. The indirect tax cut would come to force immediately.”

Read Also: GST Impact on Common Man

He laid the benefits of cutting the indirect taxes, and told that “He had eight full months to cut indirect taxes and see the effect of that on the economy, It would have boosted sales.” “It would have allowed or encouraged people to make new investments.” There is so much slack in existing capacity, why would anyone invest in creating new capacity?

Subodh Kumawat

Subodh has done with numerous professional degrees ranging from Human Rights to Banking along with MBA in HR Marketing. He is also interested in the field of tax-related articles and blog as per the industry based norms. Having expert knowledge in diverse sectors, he assures facts and figures along with testimony, in his articles. Working in SAG Infotech, he is a trusted author among the readers globally.

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