The formal launch of this consolidated tax system is expected to greatly benefit the majority of India’s population.
Mumbai: 17 years since its inception, India’s biggest indirect tax reform – the Goods and Services Tax will finally go on floors as the clock strikes 12 on July 30.
The Central Hall of Parliament will play host to the GST launch which will be attended by President Pranab Mukherjee, Prime Minister Narendra Modi, Vice president Hamid Ansari and Finance Minister Arun jaitley among others.
Big names like Amitabh Bachchan, Lata Mangeshkar and Ratan Tata will also be gracing the occasion.
The formal launch of this consolidated tax system is expected to greatly benefit the majority of India’s population as it takes away the cascading effect of multiple taxes and introduces input tax credit for traders.
The following is the timeline of today’s mega launch:
10:55 pm: President arrives at Parliament House, received by dignitaries
10:59 pm: Announcement by Marshal
11:00 pm: President arrives in Central Hall
11:01 pm: Playing of National Anthem
11:02 pm: Felicitation and Introductory remarks by Finance Minister
11:10 pm: Film/Presentation on GST
11:15 pm: Address by Prime Minister
11:45 pm: Address by President of India
12 midnight: Launch of GST (including Film)
12:03 am: Announcement by Marshal
12:04 am: Playing of National Anthem
12:05 am: President leaves