Chidambaram continues tirade against GST, points out loopholes

Bruno Cirelli
Luglio 7, 2017

Nearly a week after the new taxing system, GST was rolled out by the Modi government in a late night session on June 30, the former Minister of Finance P. Chidambaram has come out attacking the Goods and Services Tax.

"We have requested vice chancellors of all universities to hold seminars in their institutes in cooperation with the commercial tax department and invite chartered accountants, intellectuals, teachers, traders and students", the minister said. It has also recommended this to the university's executive council.

Through this move, the commerce students will be taught about the newly introduced tax reform.

Sounding a word of caution, Chidambaram said he agreed with BJP leader and former finance minister Yashwant Sinha that the GST would start unravelling if state governments are allowed to exercise discretion and impose levies over and above the GST.

And that since it has seven or more rates, it can not be called "one nation, one tax".

To create a workforce of GST-trained professionals, it was important to add GST in the syllabus to help students understand the new tax regime.

"So far, goods and services tax was not included in the curriculum". Both raised their monthly fees in response to the new tax, which requires 10% GST to be applied to digital products.

The curriculum is likely to include the concepts of the constitutional framework of indirect taxes before GST, which include taxation powers of union and state governments, VAT, rationale and structure of GST, GST council, GST network, state compensation mechanism and registration, etc. "Some goods and services will also be totally exempt", Chidambaram said. Revenue generated from GST will be generated in a manner that will benefit India.

Altre relazioni OverNewsmagazine

Discuti questo articolo

SEGUI I NOSTRI GIORNALE