GST: India’s Biggest Ever Tax Reform Launched At Midnight

GST: India’s Biggest Ever Tax Reform Launched At Midnight

It is unlikely that India would sleep tonight. On the intervening night of June 30-July 1, the country is all set to embrace one of its biggest changes-the Goods and Services Tax (GST)–since its independence back in 1947.

The launch event will kick-start at 11 pm on Friday and extend into the midnight, coinciding with the roll-out of the GST regime, informed officials involved with the whole process.

Touted as the most sweeping tax reform-the implementation of the GST will change the way India lives and conducts its daily business. From a housewife, local kirana shop owner to a business tycoon, buying and selling of everything– biscuit, tea to your dream house– will go through a sea change. While Parliament’s Central Hall is all decked up to witness the historic event, murmurs of protest from opposition parties against the Narendra Modi government’s most important decision were heard loud and clear hours before the GST launch. If political parties-both for and against the GST–are using the occasion to score some brownie points, commoners are still not sure how changes in the tax system will impact their daily life and living. The gala launch event will witness presence of President Pranab Mukherjee, Prime Minister Modi and other dignitaries from various walks of life. The rest of India will follow the occasion live on television from their living rooms. To know the minute-by-minute unfolding of the gala meeting, stay tuned to our live GST updates here…

12:04 am: GST has been officially launched by PM and President

12:03 am: I thank all for making this pathbreaking legislation: President

11:56 pm: GST is the culmination of a 14 year-long journey that began with the Kelkar Committee report in 2002: President

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11:54 pm: This is a matter of satisfaction for me as I was closely involved in the design as finance minister says Pranab Mukhjeree

11:51 pm: President Pranab Mukherjee begins his address at Central Hall of Parliament It is Good and Simple Tax, Modi

11:48 pm: It is true that computer literacy is a problem but we know it is not unsurmountable, Modi. Time to end cynicism and help this new momentum: Modi GST is the tax for a new India,

11:41 pm: Sardar Patel united the country, GST will bring economic unity, Modi GST is simple, transparent and will end corruption, Modi

11:40 pm: Tax terrorism and inspector raj will come to an end, Modi

11:36 pm:The Central Hall of Parliament has seen many historical moments, so it is the perfect venue for launch of GST. Our dream of one nation, one tax will be fulffilled.

11:34 pm: India is an example of corporate federalism says Modi

11:27 pm: GST is not achievement of just one government

11:26 pm: I thank all of you for being present says Modi. The road we have taken is a collective decision, Modi. GST is an efffort made by all of us, Modi. Central hall will witness history today,

11:23 pm: At the stroke of midnight we are taking India to a new direction, Modi

11:21 pm: Prime Minister Narendra Modi begins speech

11:19 pm: GST shows India can rise above narrow politics, Jaitley

11:17 pm: The nation has shown maturity in passing the GST council says Jaitley.

11:16 pm: Former Prime Minister Deve Gowda is on dias with PM and President

11:15 pm: We can rise above narrow politics, says FM Jaitley. No more multiple taxes, only one tax will govern the country now, he adds.

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11:13 pm: GST is an important step in the country, Jaitley

11:12 pm: GST shows inclusion says Arun Jaitley

11:05 pm: FM Arun Jaitley, VP Hamid Ansari, LS Speaker Sumitra Mahajan and others in Parliament ahead of GST launch Finance Minister Arun Jaitley welcomes all at the GST launch event

11:04 pm: President Pranab Mukherjee to reach Parliament shortly for GST rollout National anthem played at the launch of the GST rollout

11:00 pm: President Pranab Mukherjee arrives at Parliament’s Central Hall for the GST launch

10.55 pm: PM Narendra Modi, Finance Minister Arun Jaitley arrive for the GST launch at Parliament’s Central Hall. PM’s address is scheduled at 11.15 pm. Delhi: GST Bhavan lights up ahead of the GST rollout Rollout of GST is historical say Devendra Fadnavis

10.54 pm: It is only for the fourth time in history that the Indian Parliament is functioning at midnight

10.30 pm: Ratan Tata reaches Parliament to attend GST launch.

10:00 pm: Ministers and invitees start arriving at Parliament House for GST launch.

9.55 pm: Congress Rajya Sabha MP from Telangana Ananda Bhaskar Rapolu protesting against #GST in front of the Gandhi statue in the Parliament complex

9:55 pm: In bringing out any reforms, there will be initial hiccups, but those can be addressed: Venkaiah Naidu.

9.40 pm: Next three GST Council meeting will be on 1st Saturday of the month starting from August, 2017.

9:12 pm: Prime Minister Narendra Modi reaches Vigyan Bhawan to meet GST Council members from across states.

9:00 pm: Arun Jaitley to address a GST-related meeting at the Talkatora Stadium on July 6.

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8:58 pm: Delhi BJP to organise camps to help trader organisations and the common people on problems and “misconceptions” related to the GST.

8:49 pm: “Under the GST regime, tax base will expand. More people will pay tax honestly. The GST experience may lead to lower tax rates in the future while tax revenue will go up,” says power minister Piyush Goyal.

8.34 pm: I think India will grow faster, better, economy will be benefited, all the states will be benefited: Devendra Fadnavis, Maharashtra CM.

8.30 pm: Consensus in council was to bring the rate down to 5% so that fertilizer price if at all comes down, it doesn’t go up: FM Arun Jaitley.

8:15 pm: GST Council reduces tax rate on fertilizer from 12% to 5%, says Jaitley.

7:53 pm: School supplies like pencils and books are unlikely to get costlier under the GST regime: HRD minister Prakash Javadekar.

7.50 pm: Finance Minster Arun Jaitley chairs the 18th GST Council meeting at Vigyan Bhavan

7:45 pm: Parliament building lights up ahead of GST rollout

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