1. GST launched in India, mega event in Parliament rings in historic moment; PM Modi, President Mukherjee grace occasion

GST launched in India, mega event in Parliament rings in historic moment; PM Modi, President Mukherjee grace occasion

GST launched in India: The country's biggest economic reform since Independence, the Goods and Services Tax (GST) was rolled out past midnight Friday at the historic Central Hall of the Parliament in the presence of Prime Minister Narendra Modi, President Pranab Mukherjee

By: | New Delhi | Published: July 1, 2017 1:09 AM
gst, gst launched, gst launch, gst launched in india, gst rollout, gst rollout in india, Goods and Services Tax, Parliament gst launch, Parliament, narendra modi, narendra modi gst launch, modi gst rollout, gst modi, modi gst, pm modi GST Launched in India: Prime Minister Narendra Modi and President Pranab Mukherjee during rollout. (Source: PIB/ Twitter)

GST launched in India: The country’s biggest economic reform since Independence, the Goods and Services Tax (GST) was rolled out past midnight Friday at the historic Central Hall of the Parliament in the presence of Prime Minister Narendra Modi, President Pranab Mukherjee, Lok Sabha Speaker Sumitra Mahajan, Finance Minister Arun Jaitley and many other high-profile dignitaries. GST was implemented when President Pranab Mukherjee and Prime Minister Narendra Modi pressed the button to sound the gong to launch the new indirect tax regime on a digital screen. The new tax regime is based on the principle of ‘one nation, one tax, one market’ and is believed to transform the Indian economy in the coming years.

Addressing the Parliament during the event, President Pranab Mukherjee called it a precedent-setting moment for the country and a matter of personal satisfaction for him because of his role as the former Finance Minister. “I had always believed that GST was a matter of time and was happy when it was enacted and I gave assent to the Constitution amendment last year,” he said.

Meanwhile, Prime Minister Narendra Modi said that GST will not only bring a transparent and fair system but will also bring an end to corruption and black money. Talking about the initial trouble that people might have to face, the Prime Minister said even eyes have to adjust for a couple of days when a sight corrective spectacles are worn. He added that GST will promote new governance culture that will end harassment at the hand of tax officials.

Welcoming the gathering, FM Jaitley described GST as the biggest and most ambitious tax reform which is an achievement of the country through consensus. He said it highlights the fact that India can rise above narrow politics and work for country’s benefit. In making the GST, neither the Centre nor the states gave up their sovereignty, the finance minister added.

However, the opposition parties like Congress, Trinamool Congress, RJD, DMK and Left parties boycotted the event by saying that government was making a spectacle of a legislation for self-promotion, a charge Jaitley rejected. Standing by his party’s decision, former Prime Minister Manmohan Singh also boycotted the event. MPs and leaders of Congress allies NCP and Samajwadi Party did attend the function.

The GST regime seeks to reduce rates of over 50 per cent of items of daily use and charge others at a much lower rate of 5 per cent, 12 per cent and 18 per cent. However, a tax rate of 28% will be imposed on luxury items under it.

  1. Jignesh J Nagda
    Jul 1, 2017 at 7:01 am
    wel good one but what about those hawkers who sit on road, dont pay any gumastas, dont have any trade license, dont have to pay any rent as other pay rent for doing business in shops, what will modi do about that, will illegal hawkers be banned now, will they be picked up, none of hawkers in whole india pays taxes, why is IT sleeping. all cheating is going on, how will GST stop them, none of hawkers pay in checks for what they buy from any whole sellers, gas tanks sold to ur special chaiwala and vada pav stalls all at high rates in black market why dont stop that say. will GST stop that and modi first travel in gujarats trains, each and every item sold in trains been charged high, all mrp and MFT dates azre rubbed off, 25 rs dahi is sold at 30 rs or 35 rs what about that,
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