Good and Services Tax (GST) Has Launched, Initial Disagreement Will Be Resolved Soon by Council
First time, since Independence of India, mid night function took place in the Central Hall of Parliament. Prior three occasions were for the Independent on the night of 14-15, 1947, 1972 and 1997.
The annual sales more than RS 20 lakh are obligated to pay the GST-traders and employment.
The things like: Medicine, mobile phones, readymade garments, processed food, contact lenses, iron ore, cars for physically challenged for such things there will be no tax whereas the butter, television, footwear which is cost more than 500, jam, biscuits, baby food all this will add tax.
At midnight under the roof of Parliament’s Central Hall it has been bombard. The launching of it indicates to increase the expansion and fragmented local taxes which led upward the cost and hold up business.
It has already started from today 1st July 2017.
President of India convey it to be like a VAT which initially have some problem and soon will be resolved also says that it is the sign of maturity which builds the stability within states and centre.
Narendra Modi says, “GST is not only Goods and Services Tax but also Good and Simple Tax,” also added it will make the states and the centre to function in combined form for the new India. Apart from that Modi conveys it will finish the issue such as black money and corruptions.
Venkaiah Naidu said, In bringing out any reforms, there will be initial hiccups, but those can be addressed.”