-
May 27, 2015
-
1% tax above GST may hurt Make in India: CEA
Chief Economic Advisor Arvind Subramanian has criticised the proposal to impose a one per cent levy over the Goods and Services Tax (GST) to help manufacturing states.The government should reconsider this levy as it could make intra-state movement of goods expensive and hurt the Make in India campaign, he told reporters here on Tuesday. "Think of a good going from Gujarat to Tamil Nadu, crossing four states. The good would embody an additional tax of about four-five per cent, because it is one per cent in every state. That might make it easier to import into Tamil Nadu from Bangkok," Subramanian said.
Source -
http://www.business-standard.com
|