Finance Minister Arun Jaitley has debunked the Congress’ claim that it forced the government to lower tax on over 200 goods, saying rationalisation of rates was in works for 3-4 months and it is “juvenile politics” to link it to any election or political demand.
Rejecting Congress Vice President Rahul Gandhi’s demand for a single rate of tax, he said there is scope for further rationalisation of rate but the course will be decided by revenues that accrue from the Goods and Services Tax (GST) that was implemented from July this year.
Mr Jaitley said in New Delhi that this rationalisation is 3-4 month exercise and the GST Council decided on the rate cut on the recommendation of a Fitment Committee.
Explaining the rationale for the rationalisation in rates of goods and services that have been done after the launch of the GST in July, Mr Jaitley said the principle objective is that the transition has to be smooth and not abrupt.
He said, rationalisation process will always continue and wherever there is scope for improvement and procedural simplification will always continue.