Saturday, May 04, 2024 | Last Update : 02:48 AM IST
GST win-win situation for all, says Arun Jaitley
He said even the states will be getting 80 per cent of the revenue leading to more development.
New Delhi: Union finance minister Arun Jaitley on Wednesday said prices of goods have come down between four to eight per cent since the rollout of GST from July 1.
Addressing the BJP parliamentary party meeting, which was also attended by Prime Minister Narendra Modi, the finance minister said the country’s market has been integrated and its a “win-win situation for all”. External affairs minister Sushma Swaraj informed party MPs about the Prime Minister’s recent visits to the US and Israel. Meanwhile, the PM has called a breakfast meeting of party MPs from Uttar Pradesh on Thursday.
Informing about GST, Mr Jaitley said while the tax net has expanded and the markets have been integrated, the tax burden on the people have decreased. He said even the states will be getting 80 per cent of the revenue leading to more development.
Briefing the media later, parliamentary affairs minister Ananth Kumar said the finance minister told MPs that more than 100 lakh firms would be migrating to the new tax regime against around 80 lakh companies earlier. The MPs were asked to attend the Houses regularly.
