GST to launch exactly at midnight, June 30
Finance minister Arun Jaitley said the President, prime minister, vice president, chief ministers of states and Opposition leaders have been invited to be part of the GST launch. ? Photograph: (Reuters)
Finance minister Arun Jaitley has said the GST will be launched exactly at midnight on June 30.
He said a programme would be organised late on June 30 in the Central Hall of Parliament, and the GST launch would take place after that exactly at midnight.
GST or the Goods and Services Tax will replace India's many different indirect taxes with one single tax.
Jaitley said that revenues would grow once GST is introduced because it is a more efficient system which helps check evasion.
An increase in revenues, said Jaitley, would increase the spending capacity of the central and state governments.
A number of economies that have moved to GST have seen a 1-2 per cent increase in their GDPs.
Jaitley added that the president, prime minister, vice president, state chief ministers and opposition leaders have been invited to be part of the GST launch.