8 years ago
New Delhi:
Goods and Services Tax (GST), India's biggest tax reform, was launched at midnight at Parliament's historic Central Hall, by President Pranab Mukherjee and Prime Minister Narendra Modi. With the stroke of the gong, current tax rates are replaced by GST rates. It is the fourth time since Independence that an event was held there at midnight. The last three celebrated India's Independence and that is among the reasons that the Congress had listed for boycotting the GST launch. Several other opposition parties too stayed away. GST, which replaces a slew of indirect taxes with a unified tax, is set to dramatically reshape the country's 2 trillion dollar economy.
Here are the live updates of the GST Launch event:
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.
Follow NDTV.com to track detailed coverage on GST and its impact on businesses, markets and people.
Follow NDTV.com to track detailed coverage on GST and its impact on businesses, markets and people.
GST and you. Read on to know how this tax reform will impact your life
GST Is Here. How It Will Impact You In 10 Pointshttps://t.co/2tj5M5yqFT
- NDTV Profit (@NDTVProfit) June 30, 2017
In a beautiful moment, Finance Minister switched to Hindi in tracing GST history | Read here
Switching from English to Hindi, Mr Jaitley said, "Mr President, this journey started 15 years ago.... (when) the NDA 1 created a committee that gave a historic report..."
Underscoring that the GST is an "important achievement for whole country", he 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."
Switching from English to Hindi, Mr Jaitley said, "Mr President, this journey started 15 years ago.... (when) the NDA 1 created a committee that gave a historic report..."
Underscoring that the GST is an "important achievement for whole country", he 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."
Here is what the prized moment looked like
#GSTForNewIndia | #GST, launched by President Pranab Mukherjee, PM @narendramodi in Central Hall of Parliament https://t.co/jAz3XFJEnu pic.twitter.com/H206RdDbTs
- NDTV (@ndtv) June 30, 2017
BREAKING NEWS: President Pranab Mukherjee, PM Narendra Modi launch Goods and Services Tax. National Anthem marks the rollout of India's biggest tax reform.
GST council pleasantly surprised us by completing its task in time: President
- It is also a moment of satisfaction to me personally
- In meetings with Chief Ministers and officials, I found most of them had a constructive approach
- I therefore remained confident that GST was a matter of time and it would eventually be enacted
- It is remarkable in 18 meetings of the GST council, all decisions taken by consensus
- The council has pleasantly surprised all of us by completing its task in time
- It is also a moment of satisfaction to me personally
- In meetings with Chief Ministers and officials, I found most of them had a constructive approach
- I therefore remained confident that GST was a matter of time and it would eventually be enacted
- It is remarkable in 18 meetings of the GST council, all decisions taken by consensus
- The council has pleasantly surprised all of us by completing its task in time
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
- The proposal for GST was first moved in 2007
- 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
- The proposal for GST was first moved in 2007
With 10 minutes to go for midnight, President Pranab Mukherjee begins his address
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.
- GST in one way is like our railways. States and Centre run it but we see one railway
- 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.
- GST in one way is like our railways. States and Centre run it but we see one railway
This (GST) will make India more appealing to investors and embellish India's reputation as an investor-friendly location: PM Modi
GST will help us stop black money and corruption it will reward honesty: PM Modi
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
- 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
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.
- I wonder what he would have said if he had seen our tax system.
- 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.
- I wonder what he would have said if he had seen our tax system.
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.
- 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.
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.
- We have always strived for equal opportunities, equal rights. GST is an exemplary example of cooperative federalism. GST is the sign of the power of Team India.
- I congratulate everybody who has helped in this process.
- 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.
- Some of the best brains of the country have debated on this. GST is a result of that.
- We have always strived for equal opportunities, equal rights. GST is an exemplary example of cooperative federalism. GST is the sign of the power of Team India.
- I congratulate everybody who has helped in this process.
- 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.
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.
- Pandit Nehru, Azad, Patel... these great souls were sitting in the front row.
- This place has been witness to the night of 14th August 1947 when the country embraced Independence.
- Today, after years, for a new economy, give new power to our federalism - there can be no better place.
- 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.
- Pandit Nehru, Azad, Patel... these great souls were sitting in the front row.
- This place has been witness to the night of 14th August 1947 when the country embraced Independence.
- Today, after years, for a new economy, give new power to our federalism - there can be no better place.
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
- I am grateful to all of you for being here
- 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
- At different times, under the guidance of great souls, we have been led to new heights that we find ourselves at this stage
- I am grateful to all of you for being here
- 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
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.
- At midnight we will together decide the course of the future of this country.
- In a while, the country will start a new journey.
- 1.25 billion people will witness this.
- In the building of the nation there are some moments when we reach a new turn and try to reach newer heights.
- At midnight we will together decide the course of the future of this country.
- In a while, the country will start a new journey.
- 1.25 billion people will witness this.
I want to express my gratitude to all members of the GST council and the officials who made this possible, said the Finance Minister Arun Jaitley concluding his remarks.
FM @arunjaitley at #GST launch: " GST Council met 18 times, and there was never any need for voting, because of the unanimity"
- PIB India (@PIB_India) June 30, 2017
Not burdening weaker sections guiding principles of GST: Arun Jaitley
Every decision in the GST council was taken with a consensus, not a vote. Principal of equivalence, revenue neutrality and not burdening the weaker sections were the guiding principles, said Arun Jaitley in opening remarks on GST.
Every decision in the GST council was taken with a consensus, not a vote. Principal of equivalence, revenue neutrality and not burdening the weaker sections were the guiding principles, said Arun Jaitley in opening remarks on GST.
Arun Jaitley traces the journey of GST
- We have implemented a constitutional amendment displaying high point of Indian politics at a time when world is experiencing slow growth, isolationism
- This journey started 15 years ago. NDA-I created a committee that gave a historic report.
- In the 2006, UPA announced it would try to implement this by 2010.
- After your (President Pranab Mukherjee) constitutional amendment, the parliamentary standing committee gave important suggestions
- We have implemented a constitutional amendment displaying high point of Indian politics at a time when world is experiencing slow growth, isolationism
- This journey started 15 years ago. NDA-I created a committee that gave a historic report.
- In the 2006, UPA announced it would try to implement this by 2010.
- After your (President Pranab Mukherjee) constitutional amendment, the parliamentary standing committee gave important suggestions
GST sees centre and state pool their sovereignty: Finance Minister Arun Jaitley
While enacting the GST neither centre, nor state give up sovereignty. They pool their sovereignty.
While enacting the GST neither centre, nor state give up sovereignty. They pool their sovereignty.
We are in the process of making history with the launch of GST: Finance Minister Arun Jaitley
- At the midnight hour we will be launching one of India's most ambitious tax reforms
- For India it will begin a new journey
- At the midnight hour we will be launching one of India's most ambitious tax reforms
- For India it will begin a new journey
Finance Minister Arun Jaitley welcomes President Mukherjee, PM Modi and Lok Sabha Speaker Sumitra Mahajan. Begins his address.
President Pranab Mukherjee arrives in the Parliament. Walks alongside PM Narendra Modi towards the Central hall escorted by marshals.
Veteran BJP leader LK Advani sits right next to BJP chief Amit Shah in Parliament's central hall that's filled with leaders attending the midnight GST launch
Actress-turned- politician Hema Malini greets leaders in parliament's central hall
Parliament's Central Hall buzzes with activity as politicians greet each other
Demystifying your possible midnight date with GST
Picture this! You take your partner out for a date on his/her birthday to a posh restaurant, have an engaging conversation, wish him/her as the clock strikes 12. You wrap up and call for check.
This is the moment GST makes it presence felt.
With a single tax replacing the current system of multiple taxes, eating out may become cheaper, but restaurants are looking at ways to bill their midnight diners tonight.
Picture this! You take your partner out for a date on his/her birthday to a posh restaurant, have an engaging conversation, wish him/her as the clock strikes 12. You wrap up and call for check.
This is the moment GST makes it presence felt.
With a single tax replacing the current system of multiple taxes, eating out may become cheaper, but restaurants are looking at ways to bill their midnight diners tonight.
Industrialist Ratan Tata reaches Parliament to attend the midnight GST rollout
JUST IN: Prime Minister Narendra Modi arrives in the Parliament for the GST launch
Looking for a final revision of GST facts before its rollout? Government offers help
Here's a short clip explaining Goods & Services Tax in a simplified manner #GSTforNewIndia https://t.co/HlQF7Wn5es pic.twitter.com/rmWaHaj7QM
- MyGovIndia (@mygovindia) June 30, 2017
After the 18th meeting tonight, next three GST Council meetings will be on 1st Saturday of the coming months, starting from August, reports news agency ANI
#GSTSimplified | Too many #GSTFAQs, too little clarity? We've got it covered for you
- NDTV (@ndtv) June 30, 2017
For more #GST related queries: https://t.co/FSoCF7pvPj pic.twitter.com/O6xiH7VjUO
Parliamentary affairs minister Ananth Kumar arrives at Parliament's central hall
1 Hour to go, Countdown begins for GST launch event
As GST launch inches closer, Congress' Milind Deora has a small request
@INCIndia has consistently backed #GST with inflationary, technological & bureaucratic safeguards. Hope it's original intent is retained
- Milind Deora (@milinddeora) June 30, 2017
The Rashtrapati Bhavan is all set for its Midnight tryst with GST
#Parliament House illuminated for #GST launch ceremony.#AIRPics: Souvagya/Anupam pic.twitter.com/JprnUJiv0K
- All India Radio News (@airnewsalerts) June 30, 2017
With less than 3 hours to go for the gong, here's what Arvind Subramanian said on GST
NDTV EXCLUSIVE: Should Tide Over Hurdles In 3-6 Months: Arvind Subramanian On GST Launch
NDTV EXCLUSIVE: Should Tide Over Hurdles In 3-6 Months: Arvind Subramanian On GST Launch
For those lost in information vortex, call here for help and clarifications
GST feedback & helpline numbers/emails by GST council and other departments... Use them for clarifications and feedback... pic.twitter.com/ZyMxrIWqSU
- Manish Sisodia (@msisodia) June 30, 2017
Aviation sect to face teething problems due to GST: SpiceJet CMD
The aviation sector is likely to face "teething problems" for four to six months due to the implementation of the Goods and Services Tax (GST), SpiceJet CMD Ajay Singh told news agency PTI today.
The aviation ministry had earlier sought postponement of the GST implementation by two months on the ground that airlines needed more time to revamp their systems to comply with the new tax regime.
In a U-turn, the ministry later said it was prepared for the GST roll-out from the stipulated date.
The aviation sector is likely to face "teething problems" for four to six months due to the implementation of the Goods and Services Tax (GST), SpiceJet CMD Ajay Singh told news agency PTI today.
The aviation ministry had earlier sought postponement of the GST implementation by two months on the ground that airlines needed more time to revamp their systems to comply with the new tax regime.
In a U-turn, the ministry later said it was prepared for the GST roll-out from the stipulated date.
People just don't seem to be getting enough with new full forms for GST. Here's one
#GSTForNewIndia
- Sushil Kedia (@sushilkedia) June 30, 2017
GST stands for Golden Sparrow Takes-off-again. Congratulations to @narendramodi @arunjaitley & to all Indians.
Union HRD minister tells about cases in which GST registration is compulsory
#GSTForNewIndia Cases in which GST registration is compulsory pic.twitter.com/hHASj1YUuH
- Prakash Javadekar (@PrakashJavdekar) June 30, 2017
There is additional cess over 28% on 'sin' goods
28 per cent will be collected on luxury goods
Next is, 12% and 18% per cent slab
Jun 30, 2017 20:30 (IST)