India launches historic indirect tax regime GST


New Delhi, July 1 (IANS) At the stroke of the midnight hour, India launched its ambitious pan-India indirect tax regime, the Goods and Services Tax (GST) to bind the country into a regime of "one nation, one tax, one market".

The roll-out was done by President Pranab Mukherjee in Parliament's Central Hall, in the presence of Prime Minister Narendra Modi, Vice President Hamid Ansari and others.

At the stroke of the gong, the current tax rates were replaced by the GST rates.

The GST replaces a slew of indirect taxes with a unified tax regime.

The event was given a miss by the Congress, Trinamool Congress, DMK and some other parties.

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

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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.

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