Washington: The Goods and Services Tax (GST), touted to be India's biggest tax reform since Independence, has found a supporter in US President Donald Trump, who told Prime Minister Narendra Modi, it (GST) was "the largest tax overhaul in your country's history".
"We're doing that also, by the way. Creating great new opportunities for your citizens. You have a big vision for improving infrastructure, and you are fighting corruption, which is always a grave threat to democracy," Trump said.
When PM Modi and President Trump had their closely-watched meeting at Rose Garden, White House today, Trump said economic growth is the common goal between the two nations.
"India has the fastest growing economy in the world. We hope we're going to be catching you very soon in terms of percentage increase. We're working on it," Trump said.
Trump said he would like a trading relationship that is "fair and reciprocal." He expressed his keenness to collaborate with PM Modi on establishing a fair trading relationship between the two nations and called for the removal of "barriers" for the export of US goods into Indian markets.
"I look forward to working with you to create jobs in our countries, to grow our economies and to create a trading relationship that is fair and reciprocal," Trump said.
The GST, India's most ambitious tax reform, will be launched at midnight on June 30, is. The Prime Minister said the creation of "one nation, one market, one tax" would greatly benefit the common man.
The new tax reform scraps the multiple tax systems by the Centre and the states that currently apply in the country and will replace more than a dozen levies. There will be four tax slabs -- 5, 12, 18 and 28 per cent.
As there have been concerns about the preparedness of the GST Network, PM Modi reviewed its progress, discussed cyber-security in detail with experts and asked officials to pay maximum attention to it.
To help those who want to understand the structure and have questions, 34 GST Suvidha Kendras have been set up across the country. The help centres will offer all the information and some hand holding too.
The details and guidelines related to GST are also available on www.gstn.org.
(With inputs from agencies)