GST should have been passed earlier: FM

New Delhi Jan 2 (KNN) Country's Finance Minister Arun Jaitley said that Goods and Services Tax (GST) should have come earlier as it has been already delayed. He was speaking at an event of Indian Revenue Services.

Blaming the opposition not to run the Parliament in last winter session, Jaitley said that the government was banking on GST passage in the Parliament in the Winter Session, but it was unceremoniously held up by the opposition on the back of several factors, including a ED raid at P Chidambaram's son's office, a CBI raid at the New Delhi Chief Minister's office, and so on.
 
He said that if the GST is implemented, it has the potential to raise the revenue and add up to the GDP.
 
Finance Minister also said that the GST Council will be required to go in for a larger consensus on the Bill before any major decision is taken by it.
 
He hoped that in next session Government will try and follow with Political parties and the states to get the GST passed as it would be a crucial session.
 
Jaitley said that big consumer states are expected to benefit the most if GST is implemented, as it is a transaction tax. (KNN Bureau)