GST has done justice to consumers by bringing rates down says Finance Minister Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman stated on Saturday that the Goods and Services Tax (GST) has done customers justice by lowering prices compared to the previous administration. She continued, claiming that the GST has raised tax buoyancy for both states and the federal government. “GST has done justice to the consumers by bringing the rates down compared to the previous regime. Before GST was introduced, India’s indirect tax system was fragmented, where every state was effectively a distinct market for the industry as well as the consumer. GST has brought in greater tax buoyancy, as a result of which, more than your GSDP growth, your tax collection is growing. Therefore, both the centre and the states are getting benefits. We have to dispel the myth that states are losing out after joining hands for GST. Today, no state suffers after GST, and that is despite COVID,” said Union Finance Minister Nirmala Sitharaman. In a veiled assault on Rahul Gandhi for referring to the GST