ALSO READGST Council to discuss crucial issue of dual control on Friday Uttar Pradesh cabinet approves GST implementation from July 1 Crucial GST Bills, compensation law on council's agenda today GST for services: Health, edu stay exempt; others taxed at 5, 12, 18, 28% GST Council approves most of draft model Bill
GST is the biggest tax reform in independent India. It is one of the most sweeping indirect tax reforms in any federal polity in the world, in which complexities such as multiplicity of taxes and cesses, multiplicity of rates, multiple compliances, and cascading of taxation will be removed. This game-changing reform will result in significant ease of doing business as well as reduction in the overall tax burden on the consumers and the common people.
GST is a shining example of national integration and of fiscal federalism at its best. It is a testimony to the working of Indias federal democracy. It has been made possible because of close cooperation between the Central Government and all the State Governments as well as all political parties. The Cabinet which met on 22nd June, 2017 under the Chairmanship of Prime Minister Narendra Modi acknowledged the contribution made by all State Governments, by all Chief Ministers and State Finance Ministers and by all political parties which made it possible for GST to be implemented in the country from 1st of July 2017. The Union Cabinet expresses its gratitude to the Chief Ministers of all States, to the GST Council, to the Heads of all national level and state level recognized political parties, to all Members of Parliament, to all Members of State Legislatures and to all sections of society including trade and industry associations."
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