Chidambaram on GST rates cuts: Congress, I are vindicated
ANI | Updated: Nov 11, 2017 05:15 IST
The former Finance Minister mocked the Bharatiya Janata Party (BJP) and said that the government learned its lesson because of the upcoming Gujarat Assembly elections.
The Rajya Sabha MP said the next goal of his party will be the implementation of the Revenue Neutral Rate (RNR) in GST.
"Congress party's next goal will be to push for one rate: RNR with an RNR plus and an RNR minus," he said.
The RNR is a structure of different rates established in order to match the current revenue generation with revenue under GST.
Union Finance Minister Arun Jaitley today announced moving 178 items from the 28 percent to the 18 percent tax bracket under the GST, applicable from November 15.