GST Launch 2017: The midnight launch is held at the Central Hall of the parliament.
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.
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
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."
Here is what the prized moment looked like
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
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
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
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
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.
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.
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.
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.
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
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.
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.
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.
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
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.
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
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.
Industrialist Ratan Tata reaches Parliament to attend the midnight GST rollout
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
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
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
The Rashtrapati Bhavan is all set for its Midnight tryst with GST
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
For those lost in information vortex, call here for help and clarifications
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.
People just don't seem to be getting enough with new full forms for GST. Here's one
Union HRD minister tells about cases in which GST registration is compulsory
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 The 5 per cent slab is reserved for essential services Food items like milk and eggs are exempt from GST If you're still unclear about GST, here is GST explained in 6 simple steps
There are five main slabs
JUST IN: GST on fertilisers cut from 12% to 5% and on exclusive parts of tractors from 28% to 18%, announces Finance Minister Arun Jaitley
GST will offer more convenience to tax payer: ICICI Bank CEO
JUST IN: Tamil Nadu theatre owners call for indefinite strike from Monday to oppose 30% municipal tax in addition to GST
On the other end, GST council seems to be ready for launch after meeting tonight
GST Council chaired by Finance Minister Arun Jaitley in New Delhi during its 18th meeting. Mr Jaitley will throw a dinner for the council members after the meeting.
Nation unready for hasty GST implementation: Congress' Shashi Tharoor
Midnight GST launch uncalled for, not made in good taste: Kerala Chief Minister
Prime Minister hails GST ahead of its launch
At midnight with the GST a new direction will be given to the country's progress, PM Narendra Modi said while inaugurating a stadium in Gujarat.
Arvind Subramanian answers if GST rollout hit growth
We are in process of economic survey, which will come out in 3rd week of July. So we should wait. On the GST, there will be implementation challenges but whatever the impact wil be temporary. In the long term, it will boost growth potential substantially.
Chief Economic Adviser on uniform tax rate in long run
The scope for having uniform and lower rates are... the scope is enormous. In principal I think we should get down to you know something like, somewhere between 12, 13, 14 percent long term.
Arvind Subramanian on consideration to delay GST
At some stage you know you can't keep talking about having a GST. You have to actually do it and then hope that things will improve over time.
I think that there's also the sense that now that it's going to happen, now that people know it's going to happen, the advantage of a credible deadline is that it just forces people to get to speed with preparation and I think probably in the last two to three weeks a lot of that has happened, obviously not fully but I expect that over time, next you know 3 to 6 months we should tide over these challenges.
Meanwhile, the GST Council, which prepared the landmark reform, is meeting now in Delhi just hours before the tax is launched at midnight
2 big fixes in GST laid out by Chief Economic Adviser Arvind Subramanian
For me the two big fixes will have to be
(1) the rates..I think we need to over time move to no more than two to three rates.
(2) But to me or equally more important is the base I think..land and real estate, power, health, education, alcohol petroleum, at some stage we have to aspire to bring all these into the net
Wider the base the more you bring down rates.
GST council has shown that it will work on basis of consensus: Arvind Subramanian
- The GST council has shown that it will work on basis of consensus. It is a democratic process.
- The quality and spirit of decision making has been remarkable
- States can still generate revenue from indirect taxes. They retain sovereignty.
The centre and states both have to be strong for federalism to work: CEA Arvind Subramanian
GST one of the most ambitious reforms ever: Chief Economic Adviser Arvind Subramanian tells NDTV
GST India's most comprehensive push towards formalisation of economy: KPMG Chief
GST a multiple and complex tax regime: Businesswoman Kiran Mazumdar Shaw
Foreign Trade Policy provisions for GST implementation
Here's how filing returns will become easier. government explains
West Bengal Chief Minister Mamata Banerjee lashes out against the government over GST
- At the stroke of midnight on 14th August, 1947, India won her freedom. Now, at the midnight of 30th June, 2017, freedom and democracy stand to face grave danger.
- The mockery of Inspector Raj is back.
- I am shocked to find that the GST rules contain a rather draconian arrest clause which can lead to major harassment of business, particularly the small and medium, with some sections even being non-bailable too.
- Given the atmosphere in the country of vindictively targeting anyone who dares to disagree with the Central Government, I am deeply concerned that the arrest clause in GST may well be used to target business leaders who raise their voice of dissent on any policy matter or any practices.
Now, Congress-led UDF to boycott GST launch in Kerala
"The protest is against the implementation of the law through an ordinance instead of discussing the same in the state assembly," Opposition leader Ramesh Chennithala said today.
As GST launch lies hours away, Arun Jaitley plans a 'thank you' Dinner for team
At the dinner, Finance Minister Arun Jaitley will thank all the state Finance Minister who not only cooperated with the Centre but took every decision by consensus.
Prime Minister Narendra Modi will join in at the dinner after concluding his Gujarat trip.
GST will increase growth as number of taxes: Nitin Gadkari
GST will increase growth as number of taxes and cesses will reduce and number 2 (illegal) transactions will end.
Digital currency is now the (preferred) currency, so, every transaction is recorded and they (companies, restaurants) now have to pay the tax.
Revenue will increase and we can use the money for the people and economy.
Nitin Gadkari on sanitary napkins
- Companies with turnover upto 20 lakh, there is no GST but those with turnover upto 75 lakh, 1-3 %
- Sanitary napkins, produced by multi-national companies- and hence they have to pay taxes.
- There are thousands of women self-help groups that manufacture sanitary napkins. We need to promote SMSEs and these groups too.
Nitin Gadkari on Trinamool Congress leader Amit Mitra
- Amit Mitra is a good man. But due to political compulsions he is saying that. (He is boycotting the GST launch)
- GST was unanimously supported by all. It is time for people to support it. Do not think politically on this subject.
GST is a win-win situation for consumers, traders, governments: Nitin Gadkari.
With GST, there will be 90% legal transactions: Nitin Gadkari tells NDTV
- Before GST, there were 70% number 1 (legal) transaction, 30% number 2 (illegal) transactions. With GST, there will be 90% number 1 transactions.
- States will get 10-20% more taxes.
- Once more number of people pay taxes, we will eventually get to reduce rates.
GST allows abolishment of 17 taxes and 22 cesses: Nitin Gadkari
- Due to GST, there is an abolishment of 17 taxes and 22 cesses. This is a relief to investors.
- Take the example of sugar. Compare the prices of sugar in Delhi pre-GST and post-GST. You will get the answer.
- The Finance Minister has given assurance that any cost - cost of GST - would not increase than previous rates levied by states.
"If Congress believes rates are too high , why did they support it (GST)" asks Nitin Gadkari.
"When I was BJP chief, our party was convinced and supported GST": Nitin Gadkari on NDTV Dialogues
- The Congress Chief Ministers and Finance Ministers in state assemblies and Congress in parliament supported the bill. Now they call it a 'tamasha'. This is a political compulsion. They once said GST is their child, now they are criticising their own child.
- When I was BJP chief, our party was convinced and supported GST.
- But there was a provision that tax would be collected by union and distributed to state. This was objected by Mr Modi, then Gujarat CM and Shivraj Chouhan, Madhya Pradesh Chief Minister.
- We conveyed it to Pranab Mukherjee, then Finance Minister.
GST a revolutionary decision taken by the country: Nitin Gadkari
- It is important to give a new economic approach to the country.
- This revolutionary decision taken by the country, with the support of all parties.
Union Minister Nitin Gadkari speaks to NDTV ahead of GST rollout
In case you missed it, this is how Rahul Gandhi participated GST launch countdown
Behold! There is a new day in town. Mark July 1 on your calendars as GST Day now
While the rollout day of July 1 will be known as 'GST Day', all the offices of the Central Board of Excise and Customs (CBEC) have been instructed to be open on Saturday as a trade facilitation measure.
"July one will be known as 'GST Day' and celebrated in all offices of CBEC just as we celebrate Central Excise Day and International Customs Day," CBEC Special Secretary and Member S Ramesh said.
Couldn't plan that vacation to the hills yet? GST might make it cheaper, listen in
Real estate buyers and sellers, tune in to NDTV Prime at 7pm and 11pm
Maharashtra declares GST helpline for its user
Traders in UP dissatisfied with GST, launch protest, stop train
call was given by Uttar Pradesh Udyog Vyapar Pratinidhi Mandal, which also got the support of around 50 trade organisations.
The traders alleged the bandh
caused a loss of over Rs 2,000 crore.
GST would make doing business in the country tax neutral: Railway Minister
Finance Ministry details how it all happened
101 GST help desks set up in Madhya Pradesh ahead of the rollout
Housing prices will decline after GST rollout: Minister Venkaiah Naidu
Housing prices will come down after the GST rollout, Union Minister M Venkaiah Naidu today said, while expressing confidence that the landmark tax regime along with property law will bring big relief to home buyers.
With hours left for GST launch, sand artist Sudarsan dutifully pays his tribute
Is government even prepared for GST, asks Congress's Anand Sharma
Stays at five-star hotels could also get costlier after GST rollout
Stays at five-star hotels could also get costlier. The GST rate of 18 per cent will apply on hotel rooms with tariff ranging between Rs. 2,500 and Rs. 7,500. The highest tax rate of 28 per cent is assigned to tariffs of Rs. 7,500 and above.
Currently, domestic hospitality industry pays tax in the range of 18-25 per cent, which includes luxury tax and service tax. Hotels and lodges that charge Rs. 1,000 a day or less are exempted from the GST, while those charging from Rs. 1,000 to Rs. 2,500 will be taxed at 12 per cent.
BJP leader Shatrughan Sinha wishes everything goes well with GST rollout in tweets
BJP asks the country to be patient ahead of GST rollout
GST executed by an incompetent and insensitive government: Rahul Gandhi
Why has Team India consensus on GST shattered? Mamata Banerjee's aide explains
'GDP growth will increase by 1-2% because of GST': Adi Godrej to NDTV
GDP growth will increase by 1-2% because of GST
Those businessmen and traders who do not understand are complicating the GST. It is quite simple and the IT platform that has been laid out is very good.
'Won't Punish Genuine Mistakes', says Revenue Secretary ahead of GST Rollout