Prime Minister Narendra Modi described the revision of the records for taxes from goods and services (GST), which will come into effect on the first day of Navratri on Monday 21 September and call it the realization of “One Nation, One Tax”. PM Modi said that revised GST reforms will bring happiness to every family in the country and speed up the growth story of India.
PM Modi noted that previously India had dozens of different taxes, more control allowances and different rules.
At the beginning of this month with the 56th GST Council meetings decided to rationalize GST rates to two boards 5 % and 18 % by merging 12 % and 28 % of rates.
In his address to the nation on the eve of Navratriho, PM Modi said:
“The dream of One Nation One’s tax has come true. GST reforms will bring happiness to each family, speeding up the growth story of India,” PM Modi continued, saying, “There were dozens of taxes. Several inspections had to be exceeded, forms need to be filled in.
PM Modi called the festive season as “Bachat Utsav (Festival Savings Festival)”, extended “sincere congratulations and I wish millions of families across the country for reforms of the next generation”.
“These reforms will speed up the growth story of India, simplify business, will be more attractive investments and make each state the same partner in the development plant.”
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(Tagstotranslate) GST reforms
