Arun Jaitley: GST win-win deal for all

New Delhi, Jul 19 Finance Minister Arun Jaitley today described the Goods and Services Tax (GST) as a "win-win" bargain for all as it will grow the tax net, end "inspector raj" and bring down costs of products.

Pitching the GST as a measure advantageous for the nation at a meeting of the BJP parliamentary party gone to by Prime Minister Narendra Modi, senior pioneers and party MPs, Jaitley said costs of products has descended between four to eight per cent since its roll-out on July 1.

Parliamentary Affairs Minister Ananth Kumar advised reporters about the meeting in which External Affairs Minister Sushma Swaraj additionally educated parliamentarians about Modi's foreign visits, particularly to the US and Israel.

The GST was in the interest of people and states and additionally the last will get 80 for each penny of the income prompting greater advancement, Jaitley said.

There was no longer tax and the vehicle of goods across the nation over was going unhindered now, he said.

More than one crore firms will be migrating to the new tax administration against around 80 lakh organizations prior, he stated, Kumar cited him as saying.

"tax net has extended. The nation's market has been coordinated. Assessor raj is finished. The taxation rate on the majority has gone down. It is a win-win situation for all," the finance minister said.

BJP MPs were additionally made a request to go to the Houses regulary.