Punjab government lost 40 per cent revenue due to faulty GST: Congress

Jeannie Matthews
January 18, 2018

A day ahead of the GST Council meeting, the Congress on Wednesday reiterated its demand for including petroleum products and real estate under the ambit of GST and said the government must consult all stakeholders before bringing any changes in the pan-India indirect tax law.

"We had started e-way Bill in four states earlier". It is leading to huge chaos and negativity.

Finance minister Arun Jaitley will hold key GST meeting on 18 January amidst an ongoing rally in fuel prices and renewed calls to the government to cut excise duty to cushion burden on common man.

Badal said GST was projected as a measure that would lead to a growth in GDP and revenues, bring simplicity in compliances and lower prices. "Even these numbers do not capture the full impact of transitional credits that will be available for the next few months as the last date of filing of the relevant returns was almost the end of December", he said.

Noting the country has lost an opportunity to set the tax administartion right, Badal expressed concern over the rising representations against GST.

Talking about compliance issues, the Punjab finance minister said that frequent revisions in filing dates have completely shattered the faith in the sanctity of the GST reform.

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At Thursday's meeting, he claimed that the government would change the GST law, which requires Constitutional amendments. Sources have said that the Council may also deliberate on whether or not real estate should be brought under the ambit of the taxation scheme.

"Petrol and diesel prices are skyrocketing".

"On top of it the government is rolling out E-way bills from February 1 without any preparedness. To provide relief to consumers, petroleum prices should be brought under GST", Badal said.

"I m also anxious for our own revenues".

GST was meant to be a simple tax that could help in controlling inflation.

Badal said hurried deadlines to meet political goals backed by "high voltage publicity" had put the nation at a stage where it would be very hard to restore lost ground.

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