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GST launched, India welcomes new tax regime: Here are big pictures from historic midnight launch event in Parliament

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Sat July 01 2017, 1:05 pm
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    India wakes up today with One Nation One Tax. The Goods and Services Tax (GST) was launched at the Central Hall of Parliament on Friday midnight. GST is India's new tryst with destiny. (PTI Photo)

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    Factually, it is Goods and Services Tax but PM Narendra Modi termed the GST as ‘good and simple tax’. (PTI Photo)

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    GST is a momentous event for thee reasons: First, it puts in place a federal, rules-bound indirect tax system that would curtail the scope of rate differentials for the same products among states (one-product-one-tax). (PTI Photo)

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    Second, it could potentially slash India’s high logistics costs by speeding up movement of goods across state borders and even within states and thereby make the country’s goods and services more competitive. (PTI Photo)

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    Third, thanks to the availability of seamless input tax credits, GST would discourage tax evasion and expand the revenue base for the government without hurting the businesses or the consumers. (PTI Photo)

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    The GST would militate against and cut out the cascade of multiple taxes which jack up product prices.(PTI Photo)

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    Launching the big tax reform of GST, Prime Minister Narendra Modi during the midnight event said that it will put an end to harassment of honest traders and small businesses while integrating the country into one market with one tax. (PTI Photo)

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    The GST will subsume excise duty and state VAT (along with the corresponding taxes on imports), service tax, octroi, entry tax, purchase tax, central sales tax, and entertainment tax, but not the basic Customs duty which is the tariff on imports.(PTI Photo)

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    GST is good because it will eliminate tax on tax and simple because there will be just one rate and one system for the entire country, says PM Modi.(PTI Photo)

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    The Prime Minister said that the new tax is simple and transparent that would end corruption and check black money. (PTI Photo)

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    Under GST, most of the goods and services have been listed under the four slabs – 5 per cent, 12 per cent, 18 per cent and 28 per cent. (PTI Photo)

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    With the massive change in the way all the goods and services are taxed in India, it would be good to know which items will not be taxed at all. (PTI Photo)

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    Some items like salt, eggs, milk, buttermilk, unpackaged curd, natural honey, fresh fruits and vegetables have been exempted from taxation.(PTI Photo)

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    The GST is a reflection of team India and the Central Hall is the most appropriate place for launch of the new tax regime as Constituent assembly met here and also Jawaharlal Nehru delivered the Independence Day speech, he said.(PTI Photo)

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    Finance minister Arun Jaitley said, it will be an India that will write a new destiny. India can rise beyond narrow politics.(PTI Photo)

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    President Pranab Mukherjee said, GST will be administered through a modern world-class information technology system.(PTI Photo)

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    Baijayant Panda takes selfie with Babul Supriyo, NCP's Praful Patel and Supriya Sule as they leave Parliament after the launch of 'Goods and Services Tax (GST).(PTI Photo)

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    RBI governor Urjit Patel leaves Parliament after the launch of 'Goods and Services Tax (GST).(PTI Photo)

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    BJP MPs Shatrughan Sinha and Yashwant Sinha at Parliament after the launch of 'Goods and Services Tax (GST).(PTI Photo)

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    Union minister Uma Bharti and BJP MP Subramanian Swami having words at Parliament after the launch of 'Goods and Services Tax (GST). (PTI Photo)

  1. S
    Sourav Das
    Jul 1, 2017 at 3:19 pm
    good
    Reply

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