The landmark tax reform measure – Goods and Services Tax (GST) – will roll out from July 1. It will unify the $2 trillion Indian economy and 1.3 billion people into a single market for the first time ever. According to the government, GST embodies the principle of “one nation, one tax, one market” concept. To celebrate the government’s move and to make GST launch a memorable event Parliament, which is lit up only on special occasions like Independence Day and Republic Day, has been decked out with bulbs for the big day ahead.
The government will host a special midnight session on June 30 of all MPs at the central hall of Parliament to mark the introduction of GST and apart from that, it has decided to communicate its gratitude to each MP for their support in passing legislation. As per the reports by Indian Express, Jitendra Singh, MoS PMO, has written to each of the MPs thanking them for their support. Singh has also attached a copy of last week’s Cabinet resolution praising the efforts of states and legislators across the political divide.
The historic Central Hall of Parliament will host a midnight function on June 30 to launch the sweeping tax reform measure. Perhaps for the first time, the government will use the circular-shaped Central Hall, to launch a new taxation system that is set to dramatically re-shape the economy. A gong will be sounded at midnight to signify that GST has arrived. Modi will be the key speaker at the function. President Pranab Mukherjee is also likely to attend the function.
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Meanwhile, the main opposition party, Congress, is likely to decide on the issue today as to whether it will participate, as reported by PTI. As per sources, Congress leaders are divided on the issue, as one group feels that the GST was the party’s brainchild which has been now taken over by the ruling BJP and therefore the party should attend the special meeting. However, some leaders feel that the GST is being implemented in a haste and all aspects have not been taken into consideration leading to harassment of small traders and businessmen and thus, the party should abstain.