The GST council on Thursday removed 178 items from the highest 28 percent category in a major revamp of the GST structure.
The Congress party on Saturday lampooned the Finance Ministry for taking four months to see common sense and make sweeping changes to the Goods and Services Tax.
"The merits of capping GST at 18 per cent is now recognised", he added, saying that the Congress had earlier demanded a cap of 18 per cent for all taxes under the Goods and Service tax regime.
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"Congress is vindicated. I am vindicated".
In a series of tweets after Finance Minister Arun Jaitley announced that the GST Council has made a decision to slash tax slabs for 178 items from 28 percent to 18 percent, Chidambaram said that the rate has been "capped" at 18 percent.
He said the step of lowering of GST on all types of restaurants to 5 per cent is a "huge relief compared to even the pre-GST era" and will "warm millions of hearts in urban India" and would expand the "fan base of the Prime Minister". "They can not break the back of the small and medium businesses, crush the informal sector and destroy millions of jobs", Congress vice president Rahul Gandhi had tweeted before the GST council meet.
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The decision was taken during the 23rd GST Council meeting in presence of Union Finance Minister Arun Jaitley, deputy CMs, finance ministers of the states held at Hotel Radison Blue in Guwahati.
The GST Council had reduced the tax rate on a range of goods like chewing gum, chocolates, marble, detergents, deodorants, snacks, shampoo, after shave etc.
Apart from it, the GST Council also reduced the tax rate on several items from 18 per cent to 12 per cent.
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