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While addressing speech in the launch event President Pranab Mukherjee said that, GST is a disruptive change, initially the country will have to face some teething troubles that will solve promptly, so that the economic growth of the country will not get affected.
From 00:00 AM of July 1, 2017, India started a new journey along with a new tax regime under Goods and Service Tax, on which the leading industrialists and top businessmen of the country expressed their support for the sweeping tax reform that is believed to provide a great momentum to the economy of India
The GST (Goods and Service Tax) has been termed as a great reform achievement of the GOI (Government of India) by Takehiko Nakao, the president of Asian Development Bank. But he also suggested that the upcoming tax regime in the country could also cause challenges on account of some factors such as the multiplicity of tax rates.
The government has issued notification for the implementation of Central Goods and Service Tax (CGST) regime from 1st July and clarified that the new indirect taxation regime is absolutely correct.
GST is about to launch in few hours and the nation is just waiting for this biggest transition wholeheartedly. The GST grand event is scheduled to be in the central hall of parliament where the imminent personalities of politics, as well as Bollywood, will get together to see the transition in personnel.
Well – renowned businessmen of Reliance Group Industries, Anil Ambani says that Goods and Service Tax Regime (GST) which is going to be rolled out from 1st July is not just another piece of reform or transfor but our economic freedom. New GST regime would make the country independent and democratic market in the history of mankind.
Congress President Sonia Gandhi interacts with former Prime Minister Manmohan Singh today for the discussion whether that Congress party will attend the event of midnight 30th June or not. And on this issue, Partys senior spokesperson Satyavrat Chaturvedi said, the Congress will not attend the special GST meeting on its implementation.
Goods and Service Tax (GST), the biggest tax reform since Independence is to be implemented from 1st July. It is a great initiative towards the partial taxation scheme and it is done with the help of each and every centre and state officials help.
Revenue Secretary Hasmukh Adhia said that the main aim of implementing GST Regime is to move the nation into a single or dual rate of goods and services regime rather than several complicated taxes.
