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Business News » India News

One year of GST: Congress dubs it 'Grossly Scary Tax'

Goods and Services Tax (GST) roll-out completes one year on July 1, the Congress on Saturday described it as a "Grossly Scary Tax" and said the promise of a "single tax GST" still remains a pipe dream.

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One year of GST: Congress dubs it 'Grossly Scary Tax'
Image for representation. Image source: Reuters
Written By: IANS
Updated: Sun, Jul 01, 2018
10:22 am
IANS
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One year of GST: As the Goods and Services Tax (GST) roll-out completes one year on July 1, the Congress on Saturday described it as a "Grossly Scary Tax" and said the promise of a "single tax GST" still remains a pipe dream.

The party also said multiple returns, multiple rules and multiple tax slabs have made life of an ordinary trader "nightmarish".

"GST completes 1 Year at 12 O`Clock tonight, it remains `Grossly Scary Tax` for millions of traders, shopkeepers & businessmen. No wonder GST`s more popular description is `Gabbar Singh Tax` than `Genuine and Simple Tax` that it was meant to be," said Congress spokesperson Randeep Singh Surjewala in Twitter.

"A `Single Tax GST`, as promised, remains a `pipe dream`. Multiple returns, multiple rules and multiple tax slabs have made the life of an ordinary trader nightmarish," he added.

Surjewala said: "To determine GST itself is frightening. Steps- 1) Every taxpayer has to search a `Code Book` running into 438 pages with 18,036 categories 2. Out of 7 tax slabs, applicable slab has to be found 3. Add all state cesses 4. Add supply chain incentives 5. Calculate GST."

"Even after one year, only GSTR-1 form exists. Government failed to notify GSTR-2 and GSTR-3. Till that happens, bills won`t match and refund would remain a nightmare.

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"Also, GSTR-3B is a temporary form. How can government continue to stretch it at all?" he asked.

The Congress leader also said: "Out of 111 lakh registered businesses under GST, not more then 50 per cent have been able to file GST returns." 

"Ambiguity, complication, deficiency of IT infrastructure remains a major challenge. GST collections remain at an average of 90K crore against the target of 1.25K crore per month," he tweeted.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
GSTGoods and Service TaxOne Year of GST
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