Senior Correspondent, IndianRetailer.com & Retailer Magazine Jun 21, 2017 / 2 MIN READ
Union Finance Minister Arun Jaitley announced that the new tax regime, Goods and Services Tax (GST) will be launched at midnight on June 30.
Jaitley said, "All GST Council decisions have been taken through consensus. SGST has been approved by all states barring J&K and Kerala. Kerala govt will pass SGST this week."
The new tax regime will be launched at June 30 midnight in the Central Hall of Parliament in an hour-long event. The GST launch will be held in the presence of President, Vice President, every Parliamentarian, Chief Ministers of states, GST Council members and all those who have assisted in the entire GST process. Two former Prime Ministers, Manmohan Singh and Deve Gowda will also be present.
Jaitley said that in the short-term, there will be some challenges but he added that size of formal economy to increase under GST.
Unlike previous drives, the jurisdictional officers now have the authority to not only verify but also suspend licenses during this campaign.
The Budget 2017 will come in the shadow of demonetization and upcoming GST. It will also be presented just before elections for legislative assemblies of key 5 states.
The finance ministry said in a tweet, attaching the video, "GST - An initiative to create a unified national market
Ram Vilas Paswan, Food and Consumer Affairs Minister, said, "The government wants that the benefits of decreased prices, after the imposition of the GST, should reach the common man. For this we have increased the number of consumer helplines to 60."
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