Abolish IGST as Rs 1.81 Lakh Crore Lying Idle Causing Economic Loss: Sisodia

Sisodia said he had opposed from the beginning the implementation of IGST and had supported only Central GST and State GST.

Manish Sisodia, Deputy Chief Minister of Delhi, today asked to abolish Integrated GST (IGST). He said that Rs 1.81 trillion money collected as IGST has been lying idle and is causing economic loss to the country.

He said he had opposed from the beginning the implementation of IGST and had supported only Central GST and State GST.

“I feel IGST is a bad idea. In last GST Council meeting, we got the figure of Rs 1,81,418 crore IGST which we have collected and is lying idle in an escrow account. This is neither in an account of state government nor in the central government account. It’s not helping central or state governments or traders as it is just lying idle. It’s a loss to the economy,” Sisodia said at an Assocham event here.

Integrated-GST is levied on inter-state movement of goods, which goes to the Centre’s kitty.

Sisodia said the Goods and Services Tax (GST) was first conceptualised as one nation, one tax’ but with five tax slabs, it has come out as one nation, several taxes’.

He also said that GST should be levied on real estate as it is a good measure to curb black money and called for doing away the ‘inspector raj’ associated with the electronic way or e-way bill system.

He also said the e-way bill should not be required for intra-state movement of goods. “Inspector raj should be done away with. We should do data-driven inspection. If everything is online, then you do not need inspectors to ask drivers about goods being transported in the truck.”

He added, “E-way bill is not a good idea and it should not be there for intra-state, because intra-state means district to district you are putting inspectors for inspection. When everything is data driven and online, then why the need for physical presence of inspectors? You check data and go to godowns and showrooms.”

With inputs from PTI