The Goods and Services Tax, India’s biggest tax reform since Independence, was formally launched on midnight Friday at a special ceremony in the Central Hall of Parliament. The ceremony was attended by a host of dignitaries, such as Pranab Mukherjee, Vice-President Hamid Ansari, Prime Minister Narendra Modi, Finance Minister Arun Jaitley, Speaker Sumitra Mahajan among others. The new tax implementation aims at replacing maximum central and state levies and bring the nation to a common market, simplifying the tax structure and ensuring greater compliance.
Prior to the implementation of the new tax reform, the gathering was addressed by Finance Minister Arun Jaitley followed by the Prime Minister and concluded by President Pranab Mukherjee. Here are the top quotes that the three dignitaries made during their address to the members present during the GST rollout.
1. The old India was economically fragmented, the new India will create one tax, one market and for one nation.
2. GST rollout is a high point in India when the world is seeing slow growth. With GST, India is showcasing these forces can be overcome for display of inclusion, focus and boldness.
3. India will launch its biggest tax reform at midnight. India will awake to limitless possibilities. It marks the beginning of a new journey for India.
4. GST council allowed state and central government to work together. Unanimous support and consensus based work of GST Council highlights India can rise above politics and speak in one voice for national interest.
5. I express my gratitude to those who gave their support to implement GST in the country.
1. In reality it’s ‘Good and Simple Tax’.
2. GST is result of combined efforts of all political parties.
3. GST an example of cooperative federalism.
4. GST is economic integration of India just like what Sardar Vallabhbhai Patel had done decades back to integrate the country.
5. GST is transparent and fair system that prevents black money and corruption and promotes new governance culture.
1. GST is a tribute to the maturity and wisdom of India’s democracy.
2. GST to make India’s exports more competitive and provide level-playing field to domestic industry to compete with imports.
3. GST will act as a major boost to economic efficiency, tax compliance and domestic and foreign investment.