NEW DELHI: Former finance minister P Chidambaram said on Thursday that there is still a long way to go before the unified goods and service tax (GST) becomes reality on the ground.
The Rajya Sabha House on Wednesday passed the landmark 122nd Constitution Amendment, paving the way for implementing the GST, amid last minute wrangling on its details.
The Congress had sought an assurance from finance minister Arun Jaitley that the subordinate legislations that will bring into effect the new tax regime be not brought as “money bills”.
“If their intentions are transparent and bona fide, there is no reason why they should not bring it as financial bills,” Chidambaram told HT in an interview. “The road ahead is of conciliation and negotiation. Hope the government stays on this path.”
Chidambaram — who first announced plans in his 2006-07 budget speech to shift to a new indirect tax regime — said that Congress has still has political bargaining power on the issue.
“Of course we have. Let the Bills come and we will tell you what bargaining power we have,” he said.
{{/usCountry}}“Of course we have. Let the Bills come and we will tell you what bargaining power we have,” he said.
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