Saturday, November 23, 2019
News

GST set to roll at stroke of midnight tonight

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

(Rptng | Friday, Jun 30 2017 IST
With the stroke of the midnight today, the one country one tax Goods and Services Tax (GST) regime will become a reality.The stage is all set for the rollout with a mega event at the Central Hall of Parliament in the presence of President Pranab Mukherjee, Prime Minister Narendra Modi and other dignitaries as the government has called for a special function in Parliament at midnight tonight to mark the occasion. Among others Amitabh Bachchan, Lata Mangeshkar, Ratan Tata have also been invited to attend the event where the Prime Minister and the President will be giving speeches.The biggest ever tax reform GST is expected to rewrite the rules of business, while reducing the burden on the common man. It will integrate India into a common market, bigger than the European Union. It is expected that by doing away with the plethora of taxes and barriers on state borders, GST will accelerate economic growth.It will enable companies and firms to maintain electronic accounts, along with invoices. GST would ensure seamless and uniform indirect tax regime besides lowering inflation and promoting growth in the long run as it sought to allay concerns of states that they would be hurt by its implementation. GST is a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Central and state governments. It is aimed at being comprehensive for most goods and services.More UNI ADP AD ADG 1256/1514

-- (UNI) -- C-1-DL0101-954794.Xml

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
IT raids at VV Minerals group, 100 locat...
Prajnesh Gunneswaran ousts Sawat to ente...
Asian Champions Trophy 2018: India beat ...
Disqualification of 18 TN MLA's valid: H...
Gunfight on in J&K...
Corporation chairman shot dead in UP, on...
More...    
 
 Top Stories
PoK leaders outlines Pak’s misrule ... 
Imran Khan, Trump discuss Afghan pe... 
Rajya Sabha refers surrogacy regula... 
Lok Sabha members call for time-bou... 
Shiv Sena MP says party hopeful Son... 
Mumbai: Uddhav, Aaditya hold meetin... 
Kerala: Teacher, doctor of govt hos... 
16 found alive inside sealed lorry ...