Govt. to Roll out Mega Launch of GST On Midnight of June 30
On Tuesday, Arun Jaitley the Finance Minister Arun Jaitley refused any break-down in the economy in the short-term because of implementing the goods and services tax (GST). Jaitley that it would be beneficial in the medium for a long term.
According to him, there will be no effect on growth. He said that noting that already undeclared foods are coming into the system.
According to him, GST, being a more efficient system over the medium and long-term. It will help in increasing revenue.
The Central Government is considering the conduction of a special event on the midnight of June 30.
FM Arun Jaitley informed that it will take place at the Central Hall of Parliament. He said that the launch will be exactly at midnight when the switchover takes place. According to him, there will be a brief function for about an hour.
In order to acknowledge the efforts put in by successive governments at the Centre and States, the Central is also inviting all MPs, State Finance Ministers and Chief Ministers, all members of the GST Council and previous Chairpersons of the Empowered Committee.
News Source: http://www.thehindubusinessline.com/economy/gst-will-be-launched-from-midnight-of-june-30july-1-arun-jaitley/article9731073.ece?homepage=true