 "Maruti Suzuki Chairman R C Bhargava")
Joining the chorus of industry leaders disappointed by stalemate on the Goods and Service Tax (GST), Maruti Suzuki India Chairman R C Bhargava on Friday said the political establishment must “re-look at measures” clearly in the national interest.
"I am sure people at large... will be very disappointed that due to purely political reasons, with no clear economic considerations being apparent, the GST has not been approved," he said addressing shareholders at the company's annual general meeting here.
He further said: "I think that is very disappointing and as industry we believe that the entire political establishment must re-look at measures, which are clearly in national interest."
Commenting on the land bill, he said it "is stuck but it does not impact us because we have all the land we need in Gujarat plant for our expansion over the next few years".
On Wednesday, Society of Indian Automobile Manufacturers (SIAM) outgoing president Vikram Kirloskar had expressed similar views.
"SIAM has been seeking for reduced taxation and was looking forward to GST but we are disheartened at the lack of political consensus on it...," Kirloskar had said.
Similarly, Mahindra and Mahindra Executive Director and Group President Pawan Goenka had also said that there hasn't even been a debate in Parliament in the Monsoon Session and major reforms like GST and land acquisition bill are still pending.
"In terms of major reforms such as GST, not much is happening and one cannot be happy about it... It is not only about opposition and government, the whole system has to work together," Goenka had said.
The GST Constitution Amendment Bill could not be passed in the last session of Parliament due to lack of political consensus. The GST is expected to usher in a new indirect tax regime in the country, boosting business activity.
