Subramanian Swamy remains sceptical of GST’s future
The ruling NDA government, economists and even the Opposition are optimistic about the Goods and Services Tax. But BJP leader Subramanian Swamy remains sceptical.india Updated: Aug 10, 2016 00:30 IST
The ruling NDA government, economists and even the Opposition are optimistic about the Goods and Services Tax. But BJP leader Subramanian Swamy remains sceptical.
A day after the 122nd constitution amendment bill was cleared by Parliament, ending the legislation’s five year-long hibernation, Swamy raised doubts over whether the GST Act will be able to withstand legal scrutiny.
“I am confident Smart Cities will be a reality in 2018 but not sure if the future GST Act can survive in SC because of GSTN-- a PC time bomb,” Swamy tweeted on Tuesday morning.
By “PC era”, Swamy meant the duration when P Chidambaram was the finance minister during the previous UPA government.
The Goods and Services Tax Network (GSTN) is the special purpose vehicle that was formed to create the information technology backbone for the roll-out of the new, nationwide tax that will replace myriad local levies.
Swamy, a Harvard-returned economist, has not been a vocal supporter of the GST. During the seven-hour-long debate on the bill in the Upper House last week, the BJP did not allow him to participate.