Congress Criticizes GST 1.5 as it Continues to Push for GST 2.0
The GST Council's overhaul of India's tax regime prompts Congress to label it 'GST 1.5,' expressing dissatisfaction and urging for a simpler 'GST 2.0.' Concerns include inadequate state compensation and high taxes on common goods, impacting MSMEs and small businesses. Congress calls for rationalization to support economic growth.
- Country:
- India
The recent decision by the GST Council to revamp the Goods and Services Tax (GST) system has stirred political discontent. The Congress party, labeling the changes as 'GST 1.5,' voiced its dissatisfaction, stating the overhaul falls short of the simplified 'GST 2.0' it has long advocated.
Congress leaders argue for a simplification of GST rates, pressing the government to address revenue compensations to states and alleviate burdens on the poor and middle class. They contend that MSMEs and small businesses face undue hardship due to complex tax compliance.
The party insists that the GST's multiple tax slabs unjustly burden citizens, advocating for rationalized rates that would stimulate investment and economic growth. As debates persist, the call for tax reforms amplifies in anticipation of forthcoming elections.
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