GST boosted economy, benefitted small enterprises: PM Modi

WION Web Team
Delhi, India Published: Jul 01, 2018, 11.52 AM(IST)

PM Modi. Photograph:( PTI )

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With an aim to ease the tax system of the country, the Centre launched the GST on July 1 last year

Prime Minister Narendra Modi today congratulated the people of India on the first anniversary of the Goods and Services Tax. PM Modi took to Twitter and called the implementation of GST a "positive change in the Indian economy". 

The Prime Minister described the tax as, "a vibrant example of cooperative federalism and a ‘Team India’ spirit". 

"I congratulate the people of India on the special occasion of GST completing 1 year. A vibrant example of cooperative federalism and a ‘Team India’ spirit, GST has brought a positive change in the Indian economy," his tweet read. 

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In another tweet, the Prime Minister noted GST implementation to have boosted formalisation, enhanced productivity, furthered 'ease of doing business' and benefitted small and medium enterprises. 

With an aim to ease the tax system of the country, the Centre launched the GST on July 1 last year to bring in a regulated tax system.

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The GST bill consists of the CGST Act for the Centre, SGST Act for the states, UTGST Act for Union Territories and IGST Act as Integrated GST Act for the inter-state supply of goods or services.

Launched on the midnight on June 30 by Prime Minister Narendra Modi and the then President Pranab Mukherjee, the taxation scheme aimed at bringing all taxes into a single window.

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