The much-awaited Goods and Services Tax (GST) was rolled out from midnight tonight from the historic Central Hall of Parliament in the presence of President Pranab Mukherjee, Prime Minister Narendra Modi, finance minister Arun Jaitley and other Cabinet ministers, many chief ministers and senior government officials.
GST will replace more than a dozen central and state taxes or Value Added Tax (VAT) with an aim to create a seamless unified market for the $2 trillion Indian economy.
Highlights of FM, PM and President’s address at the Central Hall of Parliament at the launch of GST
Finance Minister – Arun Jaitley
India will awake to limitless opportunities to expand its economic horizons
GST is India’s most ambitious tax reform, it will create One Tax, One Market for One Nation:
It will be an India that will write a new destiny…India can rise beyond narrow politics.
” The journey of GST 15 years ago. Vijay Kelkar committee was formed in 2003 to recommend tax Refoms:
GST Council met 18 times and there was never any need for voting, because of the unanimity:
#GST midnight roll out also heralds the spirit of cooperative federalism.
Prime Minister – Narendra Modi
GST is not a success of any party or any government. It is the result of everyone’s effort
Scope of #GST is unlimited to financial system, now India will move in a new direction.
Best brains have worked on #GST, we are setting India’s roadmap.
#GST will bring economic integrity in the country, the days of ‘kachcha bill and pucca bill will become the things of the past:
#GST will provide a level playing field for all the states to progress economically
#GST will end trade imbalance and will promote exports
GST is a new tax regime of New India, Digital India which will not only transform the nation economically but also socially
#GST isn’t just ease of doing business, it’s also a way of doing business:
GST is essentially a Good & Simple Tax. Good for the country, Simple for the taxpayers
GST will also end the regime of Tax terrorism and Inspector Raj
President Pranab Mukherjee
Introduction of #GST is a momentous event for the nation. It is a tribute to the maturity and wisdom of India’s democracy
The new era in taxation is the result of a broad consensus arrived at between Centre and States
GST will make exports more competitive & also provide a level playing field to domestic industry to compete with imports
GST will be administered through a modern world-class information technology (IT) system
GST will create a strong incentive for buyers to deal with honest and compliant sellers who pay their dues promptly.