The new Goods and Services Tax (GST) regime finally came into existence from 1st July. Several years ago, the phrase ’tryst with destiny’ was spoken by the first Prime Minister, Jawaharlal Nehru in 1947. Prime Minister Narendra Modi emphasis that the new economic reform is similar to a political unification of several provinces made by Sardar Patel in 1947, now will be followed by all ministers and BJP office bearers, when they move ahead to train the people about the new regime.
Before the implementation of GST Prime Minister Narendra Modi have sent thanking note to all ministers for their ‘inspired cooperation’ in new indirect taxation regime.
Describing GST biggest tax reform since Independence, Union Finance Minister Arun Jaitley said that, “It would be an understatement to say that we are on the brink of transforming the economic landscape. This journey has been eventful and remarkable and has brought out the spirit of cooperative federalism among all of us”.
To remove the fears the government has created plans to educate the people about the new indirect taxation regime in next three months. The Centre has started making efforts to help people of business class, trading community, the bodies which are dealing in commerce and industry.
Firstly, it is essential to train the people about the technical features such as filing of tax returns, GST new rules and compliances and much more. The government is focusing equal importance to sell GST, ‘the biggest taxation reform since Independence’ and comparing with the events held in 1947.
While interacting with the public in the event at midnight on 30th June the ministers have been communicated that GST ’Indian economy’s tryst with destiny”. The phrase was acquired from Jawaharlal Nehru speech in 1947, telling that GST is the biggest taxation reform since Independence (1947).
The minister also highlights that initially the political unification was carried out by Sardar Patel in 1947, after the roll- out of GST India will convert into the economic union.
The ministers in the event have been instructed to train the people about the new indirect tax regime and is an example of dual federalism ”the Centre and the states have pooled their sovereignty” all of the decisions were taken collectively. Union Finance Minister Arun Jaitley said, ”We will also talk about how this is a fight against black money and will ensure better tax compliance”.
