Consumers Not Complaining About GST, Only Some Traders Are: Arun Jaitley

President Pranab Mukherjee and Prime Minister Narendra Modi jointly launched the new indirect tax regime Goods and Services Tax (GST), ushering a new era of "One Nation-One Tax" in the Indian economy.

Cable and DTH services: TV lovers will have a good time post-GST as Tax incidence on Cable and DTH services is believed to go down under the GST regime as entertainment tax levied by states will be subsumed under the tax regime.

"There should be no apprehension on GST as all tests are done", Chairman GST Network (GSTN) Navin Kumar said at a panel discussion along with Revenue Secretary Hasmukh Adhia at the Aaj Tak conclave here on GST. With the GST, the article says, the government is hoping not just to "streamline the myriad levies on businesses but to quiet the critics who say Mr. Modi has failed to deliver on his policy promises". "Just like that, GST is uniting all markets of India today".

Mukherjee said: "It is also a moment of some satisfaction for me personally because, as the Finance Minister, I had introduced the Constitution Amendment Bill on March 22, 2011".

GST is expected to simplify the tax structure to do business and ensuring greater compliance and boosting BJP's economic achievements before the national elections in 2019.

Finally, the day is here in India's landmark reform to enrolled new tax system GST the Goods and Services tax from today. Chidambaram said. "Small, medium and micro scale entrepreneurs and traders will be affected in a big way because they are not ready for the roll out of the new law".

Prime Minister Narendra Modi in a gala mid-night function at the Central Hall of Parliament announced the most bold economic reform in indirect taxation nearly similar in way where he had announced demonetisation of high value notes in last November in a televised address.

Remarking that it had "become a norm to evade taxes", Arun Jaitley said the government could not keep lending money from various institutions and has to get money from the citizens in the form of taxes to run the country.

In the making since 2000, the Goods and Services Tax (GST) finally kicked-in from July 1. It allows local authorities to impose some taxes.

In the near term, the reform will formalize more of India's untaxed economy, which would increase efficiency but not the size of the gross domestic product (GDP), he added. "From Ganganagar to Itanagar, from Leh to Lakshadweep, now India will be One Nation, One Tax", said Modi.

It aims to transform the nation of 1.3 billion people and its $2 trillion economy into a single market.

President Pranab Mukherjee addresses the special ceremony in the Central Hall of Parliament for the launch of GST in New Delhi on Friday. "We could have fixed a common 15 per cent GST rate on all commodities".