As it happened: Midnight GST Grand Event at Parliament

·         History has been created! PM Narendra Modi, President Pranab Mukherjee launches GST through the press of a button

·         Jul 01, 12:02 AM (IST)

President Pranab Mukherjee addresses Parliament on GST Launch

# GST will make our exports more competitive and also provide level playing field to domestic industry

# GST will make tax incidence will be transparent

# GST will be administered through a modern IT system

# GST is a disruptive change no doubt

# There is bound to be some teething problems

# Deep appreciation for all those who made this possible

·         Jun 30, 11:57 PM (IST)

President Pranab Mukherjee addresses Parliament on GST Launch

# In these meetings and with CMs that most of them had a constructive approach and underlying commitment of GST

# Confidence stood justified when then Parliament passed the Constitution Amendment Bill in 2016

# It is remarkable the in the 18 GST council meetings decisions have been taken through a consensus

# GST is the result of broad consensus between the centre and states

# It is a tribute the maturity and wisdom of India's democracy

·         Jun 30, 11:54 PM (IST)

President Pranab Mukherjee addresses Parliament on GST Launch

# In a few minutes we will witness the launch of GST

# This is a culmination of  14 year old journey when the Kelkar Task force mooted GST

# Proposal for GST was first mooted in the budget of 2006

# Design of GST assigned to the Empowered Committee of state FMs

# Introduction of GST is a momentous event

# Moment of personal satisfaction as I had presented the constitution amendment bill in 2011

# Have a vivid recollection of meetings with the Empowered Committee

·         Jun 30, 11:50 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# GST is actually Good and Simple Tax

# Good because it frees up layers of taxes, simple because it helps return filing easier

# Thankful to President Pranab Mukherjee for guiding us

# I invite President to deliver his speech

·         Jun 30, 11:48 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# GST will remove imbalance in the country

# The more we spread economy horizontally - the country can go higher up vertically

# GST is like Indian railways, run by the states and the Centre

# GST's influence will be remembered by the future generations for its immense benefits

# GST is a tax system of New India, Digital India and way of doing business

# GST is not just tax reform, it is also an economic reform and a social reform

·         Jun 30, 11:45 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# Don't fall prey to rumours, adjusting with GST is as simple as a change in the power of prescription glasses

# India has emerged as a preferred business destination internationally and GST will make exports competitive

# Backward states are blessed with abundant natural resources

# GST will provide the best opportunity for eastern states to progress

·         Jun 30, 11:43 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# Tax terrorism and inspector raj are not new things

# GST, because of technological trails will free India from 'Inspector Raj'

# GST has exempted traders with turnover of less than Rs 20 lakh and imposed low rates for traders with turnover of less than Rs 75 lakh

# In simple terms GST will prove to be the most beneficial for the poor

# The games of 'kuccha bills'and 'pucca bills' will be eliminated

# It is true that not everybody is tech friendly

# But every household with 10th and 12 th standard students can guide on GST

·         Jun 30, 11:38 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# Lines of lorries had to queue up for hours in state borders and it is critical to ferry perishable goods. We are freeing ourselves today from such irregularities and barriers.

# GST is simple, progressive. It will help curb black money and respects honesty

# GST will bring in a new governance culture

·         Jun 30, 11:37 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# Chanakya said, Whatever is very distant or difficult to get, hardwork and perseverance can make it achievable

# If Vallabhbhai Patel had not integrated all provinces into a single union, GST would not have been possible

# From Ganganagar to Itanagar, from Leh to Lakhshwadweep, our dream of ONE NATION, ONE TAX will be fulfilled

# One wonders what Albert Einstein would have said if he had seen the multiplicity of taxes in India, who had said that income tax was most different to understand

# Earlier, the same good was priced differently in Delhi, Gurugram and Noida. Today, we have freed ourselves from such multiplicity of taxes.

·         Jun 30, 11:31 PM (IST)

GST council met for the 18 th time today. The Holy Gita also has 18 chapters, says PM Modi

·         Jun 30, 11:31 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# Today, there could not have been a more pious place to launch GST

# GST, like the debates of the Constituent Assembly, has gone through a series of debates participated by the best brains of the country

# When the Constitution was adopted, it gave the country's citizens fundamental rights

# Likewise GST, is an example of cooperative federalism shows the collective strength of team India

# Today midnight, all of us together will determine the nation's next course

# Regardless of party and governments, GST council shows that upliftment of the poor remains paramount

·         Jun 30, 11:26 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# The Constituent Assembly met for the first time on December 9, 1946

# The path we have chosen is not a decision of a single party, this is not a decision of single government

# This is the result of collective effort of all of us

# We have gathered together at the Central Hall and this is an extremely pious place

# The government adopted the Consitution on November 26, 1949 in this very place

# From a few moments from now, the country will move towards a new system

·         Jun 30, 11:25 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# GST is a great example of India's unique concept of cooperative federalism

# The path we have chosen is not a decision of a single party, this is not a decision of single government

# This is the result of collective effort of all of us

# We have gathered together at the Central Hall and this is an extremely pious place

·         Jun 30, 11:22 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

# In the building of a nation, some moments come when reach a new turn to scale new heights

# Today midnight, all of us together will determine the nation's next course

# From a few moments from now, the country will move towards a new system

# 125 crore people are witness to this change

# GST's benefit is not limited just to the economic system

·         Jun 30, 11:20 PM (IST)

PM Narendra Modi addresses Parliament on GST Launch

·         Jun 30, 11:19 PM (IST)

FM Arun Jaitley on GST Launch

# The new India will create one tax, one nation and one market

# GST will bring about single flow of goods and services in the country

# GST will contain inflation, make tax avoidance difficult,

# The additional revenues to tax will allow state and central governments to fund welfare schemes

# Thankful and grateful to GST council members for dedication

# Many people did not expect GST will be rolled out from July 1

# Jaitley invites PM Modi to deliver his address

·         Jun 30, 11:18 PM (IST)

FM Arun Jaitley on GST Launch

# GST is a great example of political bipartisanship, Constitution Amendment Bill was passed, Council was formed, decisions in Council was taken through consensus

# No decision in the Council has been put to vote as all decisions were taken through consensus

# Without any dissent all tax rates on each commodities were taken through consensus

# Tax rates were fixed through principles of equivalence, revenue neutrality and no undue burden on the common persons.

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 Source: Moneycontrol