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GST Launch Highlights: President Pranab Mukherjee, PM Modi Launch India's Biggest Tax Reform
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.
While GST kendras seem to be ready and positive, there are some businesses who aren't.
K.E. Raghunathan, a Chennai-based business owner and president of the All India Manufacturers Association says "We are not ready."
"We do expect tremendous chaos," he added.
With the deadline looming, protests and industrial strikes broke out across the country over tax rates and compliance burdens. In the states of Tamil Nadu, Gujarat and Rajasthan, tens of thousands of textile workers went on strike, while the association that represents sellers of seeds, pesticides and fertilizers protested in the agricultural state of Punjab.
K.E. Raghunathan, a Chennai-based business owner and president of the All India Manufacturers Association says "We are not ready."
"We do expect tremendous chaos," he added.
With the deadline looming, protests and industrial strikes broke out across the country over tax rates and compliance burdens. In the states of Tamil Nadu, Gujarat and Rajasthan, tens of thousands of textile workers went on strike, while the association that represents sellers of seeds, pesticides and fertilizers protested in the agricultural state of Punjab.
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- Press Trust of India | Saturday October 26, 2024 , Mumbai
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Are you planning to start your own business? Flipkarts GST Store is your chance to save on electronics with up to 23% GST benefits.
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- NDTV News Desk | Tuesday September 03, 2024
Struggling with unemployment, a young man from Muzaffarnagar was in for a big shock when a team from the GST department landed up at his doorstep and told him that a company was being run in his name and a Rs 250-crore fraud had been committed.
दूसरी आज़ादी लाई GST - पहले परांठा, अब आटा, हीरे पर कम, स्याही पर ज़्यादा...Ravish Kumar
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Monday August 31, 2020Rules by bureaucrats, legalese by lawyers and analysis by economists are cold, futile methods to resolve this crisis when the need of the distressed hour is a warm, empathetic hand of the political leadership.
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