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Indian States and The Centre Take Unanimous Decision on GST

Prime Minister Narendra Modi, has launched the Goods and Services Tax (GST) which is India’s biggest tax reform in 70 years of independence and went into effect from July 1, 2017.
The launch of the landmark reform was attended by distinguished guests from all fraternities including industrialist Ratan Tata.
Currently 159 countries in the world are GST-compliant. It is important to note that GST will present the world that India has ultimately broken the jinx of reforms.
The GST launch will benefit India in long term as Modi’s government has taken tough measures like demonetization which boomed Indian digital era and also introduction bankruptcy code, insolvency, privatization of Air India and major subsidy rationalization.
GST will increase the tax payer base and will unify India into a common market. Further, Indian businesses will be able to better compete with foreign countries such as China, Philippines, and Bangladesh.

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