India is eyeing upon its most ambitious tax reform on the coming month of July which is speculated to be similar like one it was seen in the independence era. The GST is said to eliminate all those cascading effects of taxes which was putting a heavier instance on every movement in the market.
The ministry and the GST Council is known to be the apex formulation to take all the decisions related to the tax regime are gearing for the launch of goods and service tax in a more grand way. The government holds the intention to launch the goods and service tax regime from the central hall of parliament on the eve of July 1.
Earlier it was decided by many of the officials and council itself that the Vigyan Bhawan will see the GSTs light of the day as it was the place where the council holds most of the meeting. While the central hall of parliament is also under the talks where the GST may get to launch. Apart from this, many another arrangement will be done to ensure a grand launching.
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It is also speculated that all the state ministers will be present at the launching and the president will launch the GST scheme with a bell tone and on the live telecast. Finance Minister Arun Jaitley mentioned in this regard that, “We don’t have the luxury of time to defer the implementation of GST. The Council decided categorically it will be implemented from July 1 onwards.”
