Finance Minister T.M. Thomas Isaac has said that the State is all for implementation of Goods and Service Tax (GST) though some of the tax rates should be lower and there is need for greater clarity on many issues.
Dr. Isaac, who was speaking to reporters, pointed out that the State had played a creative role in preparing the GST framework and felt that though there was the danger of price rise, it would not happen if the Centre took firm measures. “Let it declare the price of all major brands since their MRP is known. What is the present tax, what is the GST, how much less will be the price... The Centre should be ready to declare this. But it has announced the matrix of only around 50 commodities. I have been demanding publication of the entire matrix in the last four meetings of the GST Council, but only figures pertaining to only a few commodities are available now,” he said.
Dr. Isaac said he had decided not to participate in the midnight launch of GST at Parliament because he did not think that this meant the dawn of a new era in the history of the country. Before this, VAT was implemented across the country. “I see GST only as the next step. It will have favourable impact on economic growth, but the claim that it would lead to 2% growth is absurd. That is nothing but propaganda,” he said.
He did not also think that the current climate in the country permitted such a celebration. The situation was such that anybody could get killed in the name of the cow, or owing to difference. “The Prime Minister took such a long time to say that there should be no killing in the name of the cow. But before he could conclude, one person was killed in Jharkhand. Such an atmosphere is unacceptable and not one for celebration.” Dr. Isaac said.
