Union finance minister Arun Jaitley on Sunday visited the memorial of former Tamil Nadu chief minister J Jayalalithaa at the Marina Beach in Chennai and paid floral tributes.
He, along with Minister of State for Commerce and Industry, Nirmala Sitharaman, interacted with industrialists in the city.
Speaking at a GST Conclave organised by various industry bodies like CII and FICCI, he said the Goods and Services Tax was not an easy reform to implement but it has evoked great public support with the government deciding not to blink in the face of opposition to the new taxation measure.
“If reform is of national interest, then do not blink. There are people who would trip you and will never allow reforms,” Jaitley said.
He said that GST regime will make the economy more efficient, and added that the industries that are opposing the tax reform are doing it to avoid paying income tax.
“Around 72 lakh (7.2 million) existing taxpayers were migrated to GST, even as there were multiple registrations. Already around 12 lakh (1.2 million) fresh registrations have come in. As this number is going to increase, the tax base is likely to expand horizontally,” he said.