FM Jaitley pushes GST, reassures on back taxes

Jaitley reiterated a reassurances that India would not pursue foreign companies with new retroactive tax claims, adding that he would like to see the few remaining disputes resolved "as expeditiously as possible."  

FM Jaitley pushes GST, reassures on back taxes

New Delhi: Finance Minister Arun Jaitley said on Saturday he hoped the opposition Congress party will come round to backing a proposed Goods and Services Tax (GST) that it has opposed despite being the first to propose the reform.

"I hope they are flexible and see the rationale behind passing GST," Jaitley said.

Jaitley reiterated a reassurances that India would not pursue foreign companies with new retroactive tax claims, adding that he would like to see the few remaining disputes resolved "as expeditiously as possible."

He further said that Indian needs to aspire to economic growth rates of 8-9 percent if it is to lift its legion poor out of poverty.

Jaitley declined to be drawn on whether he would revise his fiscal deficit targets in his annual budget next month.

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