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GST to be rolled at midnight June 30: Jaitley

ANI  |  New Delhi [India 

Minister on Tuesday said the Goods and Services (GST) will be rolled out from midnight of June 30 in the presence of several dignitaries including President Pranab Mukherjee, Vice President M.and Prime Minister Modi, besides other luminaries.

Addressing media, Jaitley said that he anticipated that the uniform system would help generate and strengthen the Gross Domestic Product (GDP).

While asserting that post the roll out in the medium and long term, the spending capacity of Centre and states would increase, Jaitley predicted short term challenges for all sections of society.

"We anticipate over the medium and the long term, being a more efficient system which is prone to checking evasion, the revenues will grow. The spending capacity of the at the Centre and the states will increase. Consequently, it should have a positive impact on the We must be prepared for short term challenges on the rollout," Jaitley said.

He also cautioned that states not implementing the from July 1, could face challenges and problems.

Elucidating the chronology of the programme organised to launch the system, Jaitley said the launch would take place at midnight, which will be followed by the address of President and Prime Minister Modi.

Vice President Hamid Ansari, Lok Sabha Speaker Sumitra Mahajan, all members of parliament and the GST Council, chief ministers, officials who have assisted in the whole process, the chairpersons of the empowered committees and former prime ministers Manmohan Singh and H.D. Deve Gowda will be present at the event.

"Late on June 30, a programme will be organised in the Central Hall of Parliament. The launch will take place exactly at midnight when the switch over takes place," said Jaitley.

"There will be a brief function of about one hour where the Prime Minister and the President will speak on the subject and there are two short films on the subject of GST which have been prepared which will be screened," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 20 2017. 13:42 IST