The Goods and Services tax, GST day is bring celebrated across the country today. Prime Minister Narendra Modi and the then President Pranab Mukherjee jointly launched the GST on the midnight of 30th June last year at the central hall of Parliament. <br />''<br />''Prime Minister said in a tweet that GST is a vibrant example of cooperative federalism and Team India spirit and it has brought a positive change in the Indian economy. <br />''<br />''He said, GST has brought growth, simplicity and transparency. <br />''<br />''Mr Modi added that it is boosting formalisation, enhancing productivity, furthering Ease of Doing Business and benefiting small and medium enterprises.<br />''<br />''Earlier, in an exclusive interview to Swarajya magazine on the first anniversary of GST, the Prime Minister hailed the indirect tax regime. <br />''<br />''He said, the reform merged 17 taxes, 23 kinds of cess into one single tax. <br />''<br />''He said, while implementing the GST, government tried to make it simple and ensure sensitivity of the system. <br />''<br />''Mr. Modi said, in just one year after the introduction of GST, the number of new enterprises registered is 48 lakh, while it was 66 lakh since Independence. <br />''<br />''He said, check-posts across the country have been abolished and there are no more queues at state borders. <br />''<br />''The Prime Minister said, not only are truck drivers saving precious time but also the logistics sector is getting a boost and thereby increasing the productivity of our country. <br />''<br />''He said, government has reduced taxes on nearly 400 groups of items and around 150 groups of items have zero per cent tax rate. He said, about 95 per cent items fall into the below 18 per cent slab.<br />''<br />''Finance Minister Piyush Goyal said, GST is the result of thinking that for a faster economic growth, the country should have one tax regime. <br />''<br />''Addressing a function in New Delhi today, on the occasion of GST day, Mr. Goyal said, GST is the symbol of cooperative and collaborative federalism and it has integrated India economically.<br />''<br />''Union Minister Arun Jaitley said, after the implementation of GST the entire country has come under one unified market. Addressing a function through video conferencing in New Delhi, he said, the government is in the process of rationalizing GST rates. Mr. Jaitley said, GST has also increased the collection of Direct Tax.<br />''<br />''Speaking on the occasion, Finance Secretary Hasmukh Adhia said, GST revenue collection has risen to Rs. 95,610 crore in the month of June, as against Rs. 94,016 crore in the previous month. He said, the average monthly collection in the previous fiscal has been Rs. 89,885 crore. <br />''<br />''AIR Correspondent reports, Hyderabad Customs and Central GST Chief Commissioner Bankey Behari Agarwal has expressed concern over low tax compliance in Telangana state compared to that of the national rate. <br />''<br />''Speaking at a function to mark GST day in Hyderabad, Mr. Aggarwal said that Telangana zone had however, achieved remarkable results in respect to certain GST indicators. <br />''<br />''Former Finance Minister and senior Congress leader P. Chidambaram has criticized the government for the way it has implemented the GST. Speaking at a party function in New Delhi today, he stressed on the need for more correction.
News On AIR | July 1, 2018 9:18 PM
GST enhancing productivity, furthering Ease of Doing Business & benefiting SMEs: PM Modi