‘GST complex in the world, only 8% in Vietnam and here …’ Shashi Tharoor Bole, Finance Bill A Patchwork – Shashi Tharoor Slams GST Structure Calls Most Complex in the World Tutd

Congress MP Shashi Tharoor on Monday attacked the government’s economic strategy, calling the Finance Bill a ‘classic case of patchwork’ and called India’s GST ‘the world’s most complex tax’.

Speaking during the debate in the Lok Sabha, Tharoor argued that there is a lack of clarity in the government’s reforms and they have failed to resolve deep structural challenges. Tharoor said that the budget speech of the Finance Minister in this House reminded me of the garage mechanic who said that I cannot fix your brakes, so I gave the horn sharp, but looking at the finance bill, she is now telling the taxpayers, I could not fix the roof, but I have brought the umbrella for you. This Finance Bill is an excellent example of patchwork solutions.

Describing India’s GST Infra as misleading and unskilled, Tharoor said that instead of the good and simple tax we were expecting, India has many more misleading GST rates, including the highest 28 percent GST rate in the world, but tax revenue is still 18 percent of the GDP.

Comparing with other countries, he said, ‘China has 13 percent GST limit, but they collect 20 percent of GDP. This limit in Vietnam is even less 8 percent and they collect 19 percent of GDP. GST in Thailand is only 7 percent and gets 17 percent of GDP. Now, apart from excessive rates, there is a suspected burden of the most complex tax in the world.

He further said that there is GST in 77 countries and they only set up a tax slab. In our country, many tax structures have added to compliance burden for businesses.

Responding to the Congress MP’s question, Nishikant Dubey of BJP defended the government’s economic record. He said that the country’s economy, which was US $ 2 trillion, has increased to US $ 4.5 trillion in the last ten years. It is the Congress agenda to oppose everything without looking at positive aspects.

Congress MP KC Venugopal also attended this attack and alleged that corporate loans worth Rs 18 lakh crore have been waived. In response, Union Finance Minister Nirmala Sitharaman clarified that being forgiven does not mean that money has been given. The government is monitoring matters.