With GST (Goods and Services Tax), the consumer will be the 'king', said Prime Minister Narendra Modi in a discussion on the GST Bill in Lok Sabha today.
With GST (Goods and Services Tax), the consumer will be the ‘king’, said Prime Minister Narendra Modi in a discussion on the GST Bill in Lok Sabha today. PM Modi thanked all political parties for their support in the passage of this crucial indirect tax reform, calling it a ‘Great Step by Team India’. The Prime Minister highlighted the various benefits of bringing in the GST, stating that whether it is states or the consumers – both would benefit greatly from this tax reform. We take a look at five major things Modi said during his intervention on the GST Bill discussion in Lok Sabha.
1) Days of ‘kacha bill’ gone: The ‘kacha bill’ and ‘pakka bill’ system in our country has helped mobilise black money. GST will help put an end to this. “GST will also help curtail black money as traders will be compelled to give proper bills,” PM Modi elaborated. “The new taxation regime will ensure that corruption moves towards zero,” he added.
2) Ending tax terrorism: “Today is 8th August. Under the leadership of Mahatma Gandhi, the Quit India movement began. Today, an important move to free the nation from tax terrorism has begun,” Modi said.
3) Consumer is king: GST will ensure that consumer is the ‘King’, Modi said. “Consumers & small businesses will gain tremendously. Small business will feel more secure with this. Small business is our strength. Economic and educational empowerment of the poor is what we are focusing on so that we can mitigate poverty,” Modi added.
4) States to benefit: Modi said that since he had been a state CM, it became easier for him to address issues that chief ministers have faced with the GST. “A lot of flaws have been overcome as far as the GST is concerned. A trust between the Centre & states developed. This was not about a parliamentary majority. This is about consensus,” Modi said. “GST will benefit mainly those states which are considered backward; it will address the problem of imbalanced development,” he added.
5) Victory of ‘Team India’: Great Step by Team India, Great Step towards Transformation, Great Steps towards Transparency, this is what GST is about, Modi said adding that the passage of the Bill is about Rashtraneeti. “Rashtraneeti is bigger than Rajneeti. GST can’t be seen as a victory of a party or government, it is a victory for democratic ethos of India & a victory for everyone,” he said, thanking all parties.