With the press of a button at midnight in Parliament’s Central Hall, India switched to GST, the single biggest tax reform undertaken by the country in 70 years of independence.
Launching GST, President Pranab Mukherjee said it is a momentous event for the nation. “This historic moment is the culmination of 14-year-long journey that began in December, 2002,” he said.
Touting it as a gamechanger, PM Modi said GST will put India on path of a system that will be transparent, simple and keeps tabs on corruption.
“GST is the outcome of a thought process over several years,” Modi said, thanking the GST council behind this landmark tax reform. “GST does not belong to one government, it is a collective effort.”
The one national GST unifies the country’s USD 2 trillion economy and 1.3 billion people …