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GST Rollout: Tax on fertilizers, tractor parts cut - The News
Posted
July 4, 2017
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July 4, 2017
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28:52Now PlayingAfter 17 long years, India's biggest tax reform in 70 years, the Goods and Services Tax, is finally set to roll-out on the midnight of June 30 in Parliament's Central Hall. The ambitious tax reform is set to unite the country's $2 trillion economy with 1.3 billion people into a single market.
GST will help remove tax barriers between states, creating a single market. Proponents say the roll-out will replace a plethora of cascading central, state, interstate and local taxes with a single, nationwide, value-added tax on goods and services, thereby helping in accelerating economic growth.
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