Adhia is considered one of the key persons behind the architecture and roll-out of the controversial Goods and Service Tax in India . He is also considered to be privy to another major controversial move of demonetisation of Rs500 and Rs. 1000 Currency notes which forced the retirement of 86percent of cash in circulation in India on 8November 2016 . . He was also accused of diluting graft charges against congress leader like Sonia Gandhi , P.Chidambaram . Hasmukh Adhia was accused of interfering and preventing promotion of Enforcement Directorate Joint Director Rajeshwar Singh . BJP Leader Subramaniam Swamy filed a petition in Supreme Court in favour of Rajeshwar Singh . Hasmukh Adhia was considered to be one of the key persons in bringing controversial LTCG tax for Stocks without any indexation benefits . This move was considered to be illogical and became largely unpopular in Indian Stock Market . This triggered Foreign Inverstors to pull out investment from Indian Stock Market and triggered a Market Crash on 2 February 2018 , a day after the announcement was made
demonetisation
2016 Indian banknote demonetisation
Hasmukh Adhia