At midnight on June 30, the historic Central Hall of Parliament witnessed the launch of the Goods and Services Tax (GST). The event was attended by many well-known figures, from veteran actor Amitabh Bachchan to industry doyen Ratan Tata.
President Pranab Mukherjee along with Prime Minister Narendra Modi officially launched the Bill in Parliament’s Central Hall.
Here are the latest updates:
12.00 am: Prime Minister Narendra Modi and President Pranab Mukherjee together launch GST.
11.49 pm: “The system where buyers will get credit only when the seller pays tax to the government encourages buyers to engage only with honest sellers. Success of such major change depends on effective implementation in the future. Jai hind!” Mr. President concludes his speech.
11.55 pm: “Though an elaborate voting structure has been created in the gst council, it is remarkable that all decisions across 18 items were taken by consensus. It has pleasantly surprised everybody by completing its task …