Arun Jaitley says attempts to derail GST have failed
Washington: Despite “attempts to derail” the recently introduced goods and services tax (GST), the states are adopting the new regime at a fast pace, finance minister Arun Jaitley has said.
Jaitley was responding to a question on the biggest challenges for GST during a conversation with Dan Schulman, president and CEO of Paypal and Chandrajit Banerjee of the Confederation of Indian Industry (CII). At the event jointly organised by CII and US India Business Council (USIBC) in New York, Jaitley said global integration of Indian economy is happening at a time when other economies are becoming more protectionist.
Asserting that India is now a better place to do business with because of the series of steps being taken by the government in the last three years, Jaitley said procedures have been simplified. Now as much as 95% of the investments are through automatic route, and foreign investment promotion board has been abolished, he noted. Today, 99% of tax queries are addressed online, he said.(Agencies)