Those who borrow from banks must repay: Arun Jaitley

MUMBAI: With Parliament passing the 122nd Constitution Amendment Bill to roll out GST, the challenge now is to discuss and decide on the applicable tax rate, Finance Minister Arun Jaitley said on Saturday.

“The sooner we arrive at consensus on a tax rate the sooner will GST get implemented,” he said. Three states — Assam, Bihar and Jharkhand — have already ratified the bill and 11 more likely to ratify it.

“The next biggest challenge is to strengthen banks,” the FM said, adding that tax base must widen and those “who take money from banks must repay the same."