KCR Says Only 'GST' & 'BTT' Will Stay
Hyderabad: Stating that cashless society will not be possible overnight, CM K Chandrasekhar Rao today observed that the country is to have only two types of taxes – GST (Goods and Services Tax) and Banking Transactions Tax (BTT). The nation is likely to have only these two taxes GST and BTT as the current regime is pushing ahead for a uniform tax across the nation.
Speaking in the Council after a debate on demonetization impact on people, KCR said, “We the State government has to support the revolutionary and reformist note ban decision announced by Prime Minister Narendra Modi. We have to wait and see for the fallout when reforms are introduced”, he said, adding that cashless is not just using swiping machines as there are 51 mobile apps in use for the purpose.
“During my 70-minute discussion with the Prime Minister, Narendra Modi sought 50 days time to ease out the monetary transactions and impact of note ban across the nation. Modi himself made it clear that he would clean up the country of corruption given some time and ready to face any punishment at any cross road, people can hit and kill him, if I fail to achieve the goal”, KCR informed.
