image
India on the threshold of unveiling GST, the momentous one tax regime, on Fridaymidnight
#GST
# GSTRollOut
# GSTFromJuly1
# ModitoRollOutGST
# NarendraModi
# PMModi
# PranabMukherjee
#OppostionBoycottGSTProgramme
New Delhi, Jun 30 (IBNS): After much discussion and debate, India is finally on the threshold of unrolling its One Nation One Tax policy through the implementation of the Goods and Services Tax (GST), scheduled for unveiling on Friday midnight.
GST will be rolled out from July 1.
" #GST Single biggest tax reform in the history of nation would become reality today at the stroke of midnight hour," tweeted the official GST handle of the Central government, on Friday.
President Pranab Mukherjee along with Prime Minister Narendra Modi will be present for the GST celebration at the Parliament on June 30 midnight.
However, some of the key opposition parties, including the Congress and the TMC, have said they will not participate in the gala midnight celebration that will mark the unveiling of the GST, according to media reports.
Samajwadi Party, Rashtriya Janata Dal and the Left are also not likely to attend the celebration, media reported.
However, Bihar Chief Minister Nitish Kumar, is expected to attend the celebration, according to media reports.
On Thursday, President Mukherjee reminisced that he was the Union Finance Minister when the Constitution Amendment Bill of 2011, which facilitated the introduction of GST, was formulated.
However, GST could not be introduced at that time.
While speaking at the inaugural session of the global summit on ‘Academics & Economic Reforms-Role of Cost and Management Accountants’ organised by the Institute of Cost Accountants of India on Thursday, the President Mukherjee said that GST is an appreciable measure taken up by the Union Government.
Union Finance Minister Arun Jaitley, who met the representatives of the trade and industry houses on Thursday said that the Central government has held consultations with all stakeholders including political parties leading to broad consensus on GST.
He asked the representatives of trade and industry to inform, educate and explain to their distributors, retailers and consumers at large about the positive impact of GST especially on the price front.
At the meeting, the minister asked the traders to pass on the benefits of GST to consumers at large, according to media reports.
He said, "Overall incidence of tax after implementation of GST will be less, pass these benefits to consumers."
"I'm sure that GST will not have any inflationary impact," the minister said.
The Finance Minister further said that now large number of traders have registered themselves and the GST Network and other official machinery is fully ready for smooth roll-out of GST from 1st July, 2017.
The representatives of trade and industry on the other hand assured the Government that benefit of price reduction would be passed on the consumers.
They also put forward their concerns and asked the Government to issue certain clarifications to remove any doubt or confusion among the traders.
Top Headlines
-
News
Bangladesh MP warns of refugee crisis if BJP wins West Bengal polls
May 01, 2026
-
News
Rain, protests, and slogans: TMC-BJP faceoff erupts outside Kolkata's Netaji Indoor Stadium strong room
April 30, 2026
-
News
Bengal polls: Mamata rejects exit poll projections, claims decisive TMC return to power
April 30, 2026
-
News
Operation Sindoor proved terror epicentres are not immune: Rajnath Singh at SCO meet
April 28, 2026
-
News
India, New Zealand seal historic FTA; Piyush Goyal calls it a defining milestone
April 27, 2026
-
News
Engine fire forces SWISS flight to abort in Delhi, 6 injured
April 26, 2026
-
News
Vee Technologies engineering division delivers 3,000th fire truck design for the US
April 24, 2026
-
News
'CM can't put democracy in peril by interfering with probe': SC slams Mamata Banerjee in I-PAC raid case
April 22, 2026
-
News
'India will never bow to any form of terror': PM Modi on Pahalgam terror attack anniversary
April 22, 2026
-
News
'Lots of bombs if talks fail': Trumps warning as Iran ceasefire nears end
April 20, 2026
