Reportedly admitting that the Goods and Service Tax (GST) may be flawed, Finance nirmala sitharaman said that the GST cannot just be ‘damned’ now as it has been passed in the Parliament. Meanwhile these comments were made as the FM was meeting with chartered accountants, company secretaries and other professionals from the financial sector in Pune.
Furthermore she was responding to a member of the Cost Accountants Association who suggested that people have been cursing the government over the complexity of the taxation regime. Further she added that while the GST may have its flaws, it’s the ‘kanoon’ (law) of this country and appealed to the professionals at the gathering to work together to have a better framework and to give better solutions around areas such as compliance. Perhaps the accounting professional too, said that he has five suggestions for the Finance Minister, which could address the ‘real problems’ of GST without actually changing the structure.
Moreover after receiving
backlash over her comments, the minister defended her statement on Twitter in
response to saying, “Request ANI to upload the question too, wherein the
participant from the audience spoke completely deriding GST. Perhaps she said
“I said that the objective of GST was to ease of doing business, reduce tax
complexities, rationalize 13 taxes, and reduce litigation and corruption. But
the same is not being achieved due to several problems and industries and
professionals are complaining now.”
