GST: Minute to Minute details before launching of India’s Biggest Tax Reform

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Minute to Minute details before launching of India’s Biggest Tax Reform
Minute to Minute details before launching of India’s Biggest Tax Reform

GST: Minute to Minute details before launching of India’s Biggest Tax Reform

 

President Pranab Mukherjee and Prime Minister Narendra Modi launched at midnight at Parliament’s historic Central Hall, India’s biggest tax reform, The Goods and Services Tax (GST). Now, existing tax rates are replaced by GST rates. GST, which replaced indirect taxes with a unified tax, is set to dramatically reshape the country’s 2 trillion dollar economy. It is the 4th time since Independence that an event was held there at midnight.

Here are the live updates of the GST Launch event:

Date Time Updates
 Jul 01, 2017 01:01 (IST)

 

With this iconic image of launch of the GST-India’s largest biggest reform, that will remain etched in people’s memory for a while, this is us signing off
Jul 01, 2017

 

00:24 (IST)

 

Underscoring that the GST is an “important achievement for whole country”, Mr Jaitley said, “The consensus highlights that India can rise above politics in interest of the nation… that India can collectively think and act with maturity for a broader purpose.”
Jul 01, 2017

 

00:03 (IST)

 

President Pranab Mukherjee, PM Narendra Modi launch Goods and Services Tax. National Anthem marks the rollout of India’s biggest tax reform.
Jun 30, 2017

 

23:57 (IST)

 

GST council pleasantly surprised us by completing its task in time: President
– In meetings with Chief Ministers and officials, I found most of them had a constructive approach
– It is remarkable in 18 meetings of the GST council, all decisions taken by consensus
Jun 30, 2017

 

23:55 (IST)

 

This historic moment is culmination of a 14-year journey: President Mukherjee
– In a few minutes from now, we will witness the launch of GST.
– A unified tax system in the country
– This historic moment is the culmination of a 14-year journey.
Jun 30, 2017

 

23:51 (IST)

 

GST in one way is like our railways: PM Modi
– There are regions of India, like Bihar and West Bengal, that are rich with resources yet they lag in development.
– GST is the biggest opportunity to develop these regions.
Jun 30, 2017

 

23:50 (IST)

 

This (GST) will make India more appealing to investors and embellish India’s reputation as an investor-friendly location: PM Modi
Jun 30, 2017

 

23:46 (IST)

 

GST will help us stop black money and corruption it will reward honesty: PM Modi
Jun 30, 2017

 

23:44 (IST)

 

With transparency of GST, grey areas will end: PM Modi minutes before the GST launch
– We have all lived tax terrorism and inspector raj. Today, due to the transparency of GST, grey areas will end
– This will end the exploitation of traders
– Traders up to Rs. 20 lakh are totally exempt from this. Traders up to Rs. 75 lakh also have many exemptions
Jun 30, 2017

 

23:39 (IST)

 

And just like that, Albert Einstein found a reference in PM Modi’s GST speech
– There were 500 different kinds of tax all over the country. Today we are free from them and we have one nation, one tax.
– Albert Einstein had once said if there is one thing that is most difficult to understand, it is income tax.
Jun 30, 2017

 

23:37 (IST)

 

GST uniting all markets of India today: PM Modi invoking historical figures in his Parliament speech:

– Chanakya had said however difficult the goal may be, we can achieve it through tireless work
– If Sardar Vallabh Bhai Patel hadn’t united all kingdoms of India just try and think what India would have seemed like today. Just like that, GST is uniting all markets of India today.

Jun 30, 2017

 

23:34 (IST)

 

GST Council had its 18th meeting… Gita also has 18 chapters

– Some of the best brains of the country have debated on this. GST is a result of that.
– GST is an exemplary example of cooperative federalism. GST is the sign of the power of Team India

– Today, GST Council had its 18th meeting. And in a while GST will be enacted. It is a coincidence that the Holy book Gita also has 18 chapters.

Jun 30, 2017

 

23:30 (IST)

 

For a new economy…there can be no better place: PM Modi on Central Hall for GST launch venue
– Today at 12 midnight, we have united in the Central Hall. This is a place where uncountable icons of our country have set foot.
– The Constitutional Assembly’s first meeting was held here.
– Today, after years, for a new economy, give new power to our federalism – there can be no better place.
Jun 30, 2017

 

23:26 (IST)

 

This is our shared inheritance: PM Modi in his opening remarks
– At different times, under the guidance of great souls, we have been led to new heights that we find ourselves at this stage
– The direction that we have picked, the system we have developed is not an achievement of one party or one government, it is our shared inheritance
Jun 30, 2017

 

23:23 (IST)

 

We’ll decide the course of the future of this country: PM Narendra Modi
– In the building of the nation there are some moments when we reach a new turn and try to reach newer heights.

 

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