President to launch GST on midnight of 30th June

Midnight Parlt Central Hall event to mark GST rollout

The new indirect tax regime - The Goods and Services Tax (GST) - will be launched at the midnight of June 30 in the Central Hall of Parliament in an hour-long event that will evoke memories of the "Tryst with Destiny" moment of 1947. The GST Constitutional (101st Amendment) Act 2016 mandates introduction of a national Goods and Services Tax in India.

The Central Hall was selected considering the importance of the new tax code that unifies more than a dozen separate levies to create a single market with a population greater than the US, Europe, Brazil, Mexico and Japan put together.

GST, he said, over the medium to long term, will lead to a rise in revenues of the Centre and states as the size of the formal economy will grow.

An increase in revenues, said Jaitley, would increase the spending capacity of the central and state governments.

The biggest tax reform since Independence, which will gradually re-shape India's business landscape by making the world's fastest-growing major economy an easier place to do business in, would bring down barriers between 30 states and unifying the Dollars 2 trillion economy and 1.3 billion people into a single market.

Data on 198 Million US Voters Exposed, Largest Disclosure to Date
The huge cache of data was discovered last week by Chris Vickery , a cyber-risk analyst with security firm UpGuard . The exposure of the data, has been widely reported as the largest leak of voter information in history.

Talking about GST-prepareness of the country, he said it will be measured not on July 1, but in August when the returns will be filed. Responding to the question of traders facing problems in registering themselves, he said "The 65,000 who registered did not have issues, the 5,000 who did are on Twitter". "If he's still not ready, then I'm afraid he does not want to be ready".

But, with 6.5 million firms already registered for GST and more expected to sign up, there was no excuse for firms not to be ready for what has been billed as the biggest tax reform in India's 70-year history.

Addressing media, Finance Minister Arun Jaitley on Tuesday said that he anticipated the uniform tax system would help generate revenue and strengthen the Gross Domestic Product (GDP).

He further said the process of registration on the GSTN is going on smoothly.

GST council members also been invited to attend the session.

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