Union Finance Minister Arun Jaitley today said that despite the Opposition boycotting the Special Session of Parliament tonight for launch of the GST, the 'celebration' will go on.
Responding to the question of Congress-led Opposition's boycott, Jaitley said, "Karvan toh chalta rahega (Caravan will keep moving). Those who won't take part, would not stop it even if they take part (in the session)."
"There has been no reform that was necessary and the country did not do that. This is the strength and resilience of the country," Jaitley said.
Arun Jaitley said that Congress had adopted a narrow attitude. "Such narrow attitude will not stop the nation," said Jaitley, adding, "Congress had the opportunity to rise above politics."
"Congress has taken a fringe position, a position taken by fringe parties. Congress needs to think whether it wants to take fringe position or mainstream position on issues of national interests," Jaitley said.
MIDNIGHT SESSION
Arun Jaitley rejected the Opposition's claim that the midnight session of Parliament for GST launch was a 'self-promotion' move by the Modi government.
"This is not self promotion. We have been saying this since beginning that everyone has contributed to GST. For the Special Session of Parliament, President and Vice-President were consulted. Former PMs were to be present," Jaitley said adding that the Congress chose to be on the other side.
ARE WE READY FOR GST?
Finance Minister Jaitley said, "If you see the history of economic reforms around the world, the private sector has remained a step ahead of government. This time the history has reversed. We announced 6-8 months ago that the GST would be rolled out on July 1. They believed that the governments are known to miss deadlines."
The July 1 deadline was fixed at the GST Council, which took a unanimous decision on implementing GST, said Jaitley.
Jaitley said that previously traders had to file return for 17 different taxes. "Under GST, they are required to file one tax in one software every month," Jaitley said.
He said there would be some glitches as GST was a new regime but the those would be appropriately dealt with.
WHAT ELSE JAITLEY SAID
Arun Jaitley emphasised that Centre was not deciding authority in finalising tax rates. "The GST Council is not the Centre. It has 31 states and the Centre as members. We are not the one to take the final call."
With regard to Jammu and Kashmir, where enabling GST law has not been passed by the Assembly, Jaitley said, the delay is due to Article 370, which a is reality and the politics of the state. Some people are saying that GST will lead to more integration with the rest of the country.
Jaitley said that he has written a letter to Chief Minister Mehbooba Mufti highlighting the losses that Jammu and Kashmir and people of the state will suffer for not implementing GST.
Jammu and Kashmir consumers will have to pay taxes twice. The products will be costlier in Jammu and Kashmir. The Jammu and Kashmir government can't claim compensation for the loss of revenue. If the manufacturer in Jammu and Kashmir tries to sell products outside the state, they will have to pay taxes twice.
Jaitley also slammed West Bengal Chief Minister Mamata Banerjee for not passing a law for implementing GST. He said, all the states and political parties should take one clear stand on GST. They can be either with it or against it. They supported GST in the Council but are not with it in the state.
On the question of keeping petroleum and real estate out of the purview of GST, Jaitley said, the new amendment has brought petroleum under its ambit. He also said that petroleum is at present zero-rated under the GST. The GST Council has to take a decision about petroleum. The decision will be taken sooner than later, Jaitley said.
On real estate, Jailtey said, this sector will also be brought under the GST. There is lot of tax evasion in real estate sector. Bringing it under GST will make it more transparent.
Responding to the question of Congress-led Opposition's boycott, Jaitley said, "Karvan toh chalta rahega (Caravan will keep moving). Those who won't take part, would not stop it even if they take part (in the session)."
"There has been no reform that was necessary and the country did not do that. This is the strength and resilience of the country," Jaitley said.
Arun Jaitley said that Congress had adopted a narrow attitude. "Such narrow attitude will not stop the nation," said Jaitley, adding, "Congress had the opportunity to rise above politics."
"Congress has taken a fringe position, a position taken by fringe parties. Congress needs to think whether it wants to take fringe position or mainstream position on issues of national interests," Jaitley said.
MIDNIGHT SESSION
Arun Jaitley rejected the Opposition's claim that the midnight session of Parliament for GST launch was a 'self-promotion' move by the Modi government.
"This is not self promotion. We have been saying this since beginning that everyone has contributed to GST. For the Special Session of Parliament, President and Vice-President were consulted. Former PMs were to be present," Jaitley said adding that the Congress chose to be on the other side.
ARE WE READY FOR GST?
Finance Minister Jaitley said, "If you see the history of economic reforms around the world, the private sector has remained a step ahead of government. This time the history has reversed. We announced 6-8 months ago that the GST would be rolled out on July 1. They believed that the governments are known to miss deadlines."
The July 1 deadline was fixed at the GST Council, which took a unanimous decision on implementing GST, said Jaitley.
Jaitley said that previously traders had to file return for 17 different taxes. "Under GST, they are required to file one tax in one software every month," Jaitley said.
He said there would be some glitches as GST was a new regime but the those would be appropriately dealt with.
WHAT ELSE JAITLEY SAID
Arun Jaitley emphasised that Centre was not deciding authority in finalising tax rates. "The GST Council is not the Centre. It has 31 states and the Centre as members. We are not the one to take the final call."
With regard to Jammu and Kashmir, where enabling GST law has not been passed by the Assembly, Jaitley said, the delay is due to Article 370, which a is reality and the politics of the state. Some people are saying that GST will lead to more integration with the rest of the country.
Jaitley said that he has written a letter to Chief Minister Mehbooba Mufti highlighting the losses that Jammu and Kashmir and people of the state will suffer for not implementing GST.
Jammu and Kashmir consumers will have to pay taxes twice. The products will be costlier in Jammu and Kashmir. The Jammu and Kashmir government can't claim compensation for the loss of revenue. If the manufacturer in Jammu and Kashmir tries to sell products outside the state, they will have to pay taxes twice.
Jaitley also slammed West Bengal Chief Minister Mamata Banerjee for not passing a law for implementing GST. He said, all the states and political parties should take one clear stand on GST. They can be either with it or against it. They supported GST in the Council but are not with it in the state.
On the question of keeping petroleum and real estate out of the purview of GST, Jaitley said, the new amendment has brought petroleum under its ambit. He also said that petroleum is at present zero-rated under the GST. The GST Council has to take a decision about petroleum. The decision will be taken sooner than later, Jaitley said.
On real estate, Jailtey said, this sector will also be brought under the GST. There is lot of tax evasion in real estate sector. Bringing it under GST will make it more transparent.
