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29
June 2017
 |
GST (The Total Investment & Insurance
Solutions)
After
more than a decade-long journey, the biggest indirect tax reform since
Independence -- GST -- is finally set for a midnight launch on Friday in
Parliament's Central Hall in the presence of President Pranab Mukherjee, Prime
Minister Narendra Modi, Vice President Hamid Ansari, Members of Parliament,
state finance ministers and chief ministers. The Total Investment & Insurance Solutions
The
Goods and Services Tax (GST) will be launched on Friday midnight in an
hour-long event that will evoke memories of the "Tryst with Destiny"
moment of 1947.
Both
the President and the Prime Minister will speak on the subject and two short
films on GST will be screened in the Central Hall. The Total Investment & Insurance Solutions
On the
midnight of August 14-15, 1947, the country ushered in Independence from
British rule with a special function in the Central Hall in which the first
Prime Minister, Jawaharlal Nehru, made his now famous speech "Tryst with
Destiny". The Total Investment
& Insurance Solutions
Acknowledging
the role of previous governments in readying the GST, the government has also
invited former Prime Ministers Manmohan Singh and H.D. Deve Gowda, though the
Congress still appears undecided over attending the special midnight function
in Parliament.
The Trinamool
Congress has already decided not to attend the June 30 midnight programme as a
mark of protest against the "unnecessary disastrous hurry" to roll
out the pan-India tax regime.
Major
opposition parties are likely to skip the midnight launch of GST, sources in
the parties said.
The
issue was discussed informally among leaders of the opposition grouping which
gathered here for filing of nomination of their Presidential candidate Meira
Kumar on Wednesday.
The
leaders said there appeared to be a lot of confusion and apprehension among
various sections of the trading and business community, some of whom are
protesting against certain provisions of the new indirect taxation law. The Total Investment & Insurance
Solutions
Opposition
leaders said they would like to keep away from the function which they feel was
being planned by the government as a publicity gimmick. "It's not a tryst
with destiny but playing with the destiny of people," one leader remarked. The Total Investment & Insurance
Solutions
GST,
termed as the most radical tax reform since Independence, seeks to subsume all
central indirect taxes like excise duty, countervailing duty and service tax,
as also state levies like Value Added Tax, entry tax and luxury tax, to create
a single, pan-India market.
So far,
apart from Jammu and Kashmir, all the states have passed the State GST (SGST)
law. Finance Minister Arun Jaitley has written to J&K Chief Minister
Mehbooba Mufti to join the GST regime by July 1. The Total Investment & Insurance Solutions
Going
back in history, GST was first discussed in the Kelkar Task Force report on
indirect taxes in 2003 and a proposal to introduce a national GST by April 1,
2010, was first mooted in the Budget Speech for the financial year 2006-07. The Total Investment & Insurance
Solutions
Decks
were cleared for the GST regime with parliamentary approval to Central Goods
and Services Tax (GST) Bill, Integrated GST Bill, Compensation GST Bill and
Union Territory GST Bill 2017, on April 7.The Total Investment & Insurance Solutions
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