'GST Result Of Compromise Which Isn't Best Solution,' Says Yashwant Sinha: Highlights

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'GST Result Of Compromise Which Isn't Best Solution,' Says Yashwant Sinha: Highlights

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Yashwant Sinha spoke to NDTV in an exclusive interview on GST.

The Goods and Services Tax or GST was rolled out on July 1 after a midnight launch in Parliament's historic Central hall. GST replaces about 20 indirect taxes at both the centre and in states, while unifying the $2 trillion economy and 1.3 billion people into a single market. Senior BJP leader Yashwant Sinha speaks to NDTV on the GST reform.

Here are the highlights from the exclusive interview with Yashwant Sinha:
  • GST is the biggest indirect tax reform
  • We have been working on it for 20 years
  • It is the result of a compromise and compromise is not the best solution
  • Each state will look at gain, loss so will lead to litigation
  • Should have avoided multiple rates, it leads to lobbying
  • Rate multiplicity leads to discretionary powers
  • We had all the time in the world, could have had better solution
  • Tax is just part of larger economic reform
  • Private sector investment is important
  • Need to get rid of bad loans. No notebandi data available
  • Real growth of 8 percent is needed to get rid of poverty and unemployment
  • Government has not sought my views on GST


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