New Delhi, October 11: With the Centre assigning a 12-member panel to review the structure of the Goods and Services Tax (GST), Finance Minister Nirmala Sitharaman has admitted that possible flaws may exist in the taxation mechanism. Her remarks, while speaking at a public event in Pune, came shortly after the government recorded a 19-month low in taxation collection for the month of September.
Sitharaman appealed the gathering of businessmen, entrepreneurs and chartered accountants to cooperate with the government despite the teething issues being faced by them due to the GST mechanism. The taxation mechanism has been rolled out across the nation and cannot be undone at this moment, she said.
"We just can't damn GST now. It has been passed in Parliament and in all state assemblies. It might have flaws, it might probably give you difficulties but I'm sorry, it's the 'kanoon' of the country now," Sitharaman was reported as saying.
Watch Video: GST Cannot be Damned Now, Says Sitharaman
#WATCH Finance Min during interaction with businessmen,entrepreneurs,CAs&others in Pune:We just can't damn GST now. It has been passed in Parliament&in state assemblies. It might have flaws,it might probably give you difficulties but I'm sorry,it's the 'kanoon' of the country now pic.twitter.com/tAPcQmHh5H
— ANI (@ANI) October 11, 2019
"Suddenly we cannot say, 'what a goddamn structure is this (Goods & Service Tax)'. I wished from day 1, that it met with your satisfaction but I am sorry that it did not meet with your satisfaction," she added.
The GST collection in September fall by 2.67 percent to Rs 91,916 crore compared to the same period last year. The drop, being attributed to the ongoing economic slowdown, is also being linked to the GST structure which has reportedly hit several among the small and medium scale businesses.