GST gets a new definition: PM Modi terms it 'good and simple tax'

Modi said GST will eliminate the compounding effects of multi-layered tax system

Prime Minister Narendra Modi today termed the GST as a 'good and simple tax' which will end harassment of traders and small businesses while integrating India into one market with one tax rate.

At a gala event to launch the Goods and Services Tax (GST) at the historic Central Hall of Parliament, Modi said the indirect tax reform is a result of combined efforts of various political parties at different points of time.

GST, he said, is an example of cooperative federalism as the centre and states together thrashed out the new law with consensus.

Besides being a transparent and fair system that