Watch: Goods and Services Tax (GST), a historic tax reform, comes into effect from 1st July 2017. GST will completely transform the indirect taxation landscape in the country involving both, the Central and State levies. In a departure from the normal practice, GST will be administered together by the Centre and State.
To commemorate this Historic occasion, a function is being held in the Central Hall of Parliament from the Midnight of 30th June-1st July onwards.
India witnesses the biggest reform since independence, as GST will pave the way for realization of the goal of One Nation, One Tax, One Market.
GST will benefit all the stake holders including Industry, government and consumers.
GST is one indirect tax for the whole nation, which is ready to make India one unified common market. It is a single tax on the supply of goods and services, right from the manufacturer to the consumer.