Acknowledging the contributions of all parties in helping the Goods and Services Tax see the light of day, Prime Minister Narendra Modi said that the rollout of the tax reform would help chart out a new course of the country and that its launch should not only be seen as the achievement of any one party or government alone.
While speaking in Parliament during a special function to launch the GST, Modi said, "We are deciding India's future course. We will chart a new course for the country at midnight with the launch of GST, which is not an achievement of any party or government only but a collective one. It's scope is not limited to the financial system."
President Pranab Mukherjee, Vice President M. Hamid Ansari and Finance Minister Arun Jaitley along with several cabinet ministers and MPs were also present in Parliament.
He said the dream of "one nation, one tax" would be realised with this landmark tax reform coming into force.
MODI LISTS BENEFITS OF GST
Listing some of the several benefits the implementation of this milestone tax reform would bring in, Modi said, "GST is a good and simple tax. It is a catalyst that will end imbalance in trade and help increase export promotion. GST will protect citizens of Inspector Raj and help check black money and corruption. People will no longer have to wait for hours at toll plazas with the GST integrating 31 states and Union Territories as one."
The Prime Minister went on to say, "GST is economic integration of India just like what Sardar Vallabhbhai Patel had done decades ago to integrate the country."
Issuing a word of caution at the same time, Modi said that while there may be some minor hiccups in the immediate wake of the rollout of the tax reform, people will soon adjust and the glitches will be ironed out before long.
HERE IS EVERYTHING THAT THE PRIME MINISTER SAID ABOUT THE TAX REFORM
1. The Good and Simple Tax is about collective effort. GST isn't just about India's economy but about democracy and cooperative federalism.
2. It's not about achievement of one party or one government, but it's our collective legacy, a fruit of our collective efforts.
3. It's about history. Central hall of Parliament has been witness to history.
On Dec 9, 1946, the Constituent Assembly first met here
On Aug 14, 1947, India gained independence
On Nov 26, 1949 Constitution of India was adopted
4. For a step towards new economy and a new unifying system, there couldn't be a more appropriate place.
5. It's about consensus. India debated its Constitution for two years, 11 months and 17 days. In the same way, GST is a result of long discussions between the Centre and states in which the best brains of the country participated.
6. It's about equality. The Constitution gave all citizens the same opportunity and the same rights. GST brings all people of various states together in a single tax structure.
7. It's about Team India. GST is about cooperative federalism and the strength to walk together. It shows team India's potential. Horizontal sharing of burden will take the country in a vertical direction.
8. It's about the poor. GST Council has ensured that the services to the poor are not affected. Empathy towards the poor was on top of their mind. The poor will benefit most from GST.
9. Small traders with turnover up to Rs 20 lakh are exempt and even for those with Rs 75 lakh turnover, the aim is to bring them into the system. There will be no additional burden on the small businesses
10. It's about coincidence. GST was the result of GST Council's 18th meeting today. Gita, coincidentally, has 18 chapters.
11. It's about one India. If Sardar Valbhbhai Patel hadn't unified the 500 princely states, what would India look like? Like Patel unified India, today we are talking about the economic integration of India.
12. Before GST, we had 500 different kind of taxes. Today from Ganganagar to Itanagar, from Leh to Lakshdweep we have one nation, one tax.
13. It's about transparency. GST is an opportunity to clean up black money. It's an opportunity for honest traders. It brings a new governance culture.
14. It's about ending tax terror. We have all heard about tax terrorism and Inspector Raj. GST is about technology and creates a tech trail. The grey area for bureaucracy is coming to an end.
15. It's a Good and Simple Tax. The world calls it Goods and Services Tax but it's actually a Good and Simple Tax. It's good as there's no tax on tax and simple because there's one form and one system.
16. It's about India. India has emerged as a favourite destination for foreign investors and foreign investors will benefit with a simple tax structure.
17. GST will act as a catalyst that helps remove India's trade imbalance and strengthen export promotion.
18. It's about development. GST will help those states that have natural resources but have lagged in development. All states will get equal opportunity and that's a big thing.
19. It's like our railway that Centre and states run together but we see it as Indian Railway. GST is about the Centre and states working towards a defined goal.
20. It's nothing to fear. Not everyone is tech savvy but everyone knows a Class 10 or Class 12 student who can help. Even when the number of your spectacles changes, you need to adjust to it.
Post a Comment