Published On: Fri, Jun 30th, 2017

At The Stroke Of Midnight India Launches New Tax Order – GST

Coined by Indian Prime Minister Narendra Modi as ‘Goods And Simple Tax’, the much debated and much awaited Goods and Services Tax (GST) was launched at midnight of 30th June and 1st July.

Considered as the biggest tax reform in the history of independent India, the GST comes into effect from 1st July. It was launched by President and Prime Minister of the country, bringing the dream to reality of ‘One India, One Tax.’
At The Stroke Of Midnight India Launches New Tax Order - GST

An era of New India has bid adieu to Value Added Tax (VAT) by embracing GST and people are confident about the new tax regime.

President Pranab Mukherjee said GST introduction is a momentous event for India and it will create a strong incentive for buyers.

PM Modi said the new tax regime is transparent and fair system that prevents black money.

Finance Minister Arun Jaitley said the new tax system is a journey that will open endless possibilities for the country.

India is a $2 trillion economy and 1.3 billion people are into common market.

Meanwhile, the main opposition parties including Congress boycotted the launching event of GST terming it as gimmick.

TMC’s Mamata Banerjee said GST would bring back the dreaded Inspector Raj.

About the Author

- Paul Linus is an eminent online journalist who has been writing news, features and editorials on different websites from across the world for about a decade.

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