Jaipur: A baby born on midnight of June 30-July 01 in Rajasthan has been named ‘GST’. His mother decided to name him ‘GST’ as he was born at 12.02 am in Beawa.
The Goods and Services Tax (GST) – India’s biggest tax reform since independence – came into force after 17 tumultuous years of debate at the stroke of midnight on June 30.
The new tax regime was ushered in at a late night event in the historic Central Hall of Parliament.
“There are 500 types of taxes that play their roles. Today we are getting rid of them,” PM Modi had said.
“From Ganganagar to Itanagar and Leh to Lakshadweep, it is one nation, one tax,” he had added.
Besides PM Modi, the starry midnight launch was attended by President Pranab Mukherjee, Vice President Hamid Ansari, Lok Sabha Speaker Sumitra Mahajan and former PM HD Deve Gowda.
President Mukherjee and PM Modi pressed a button in a specially crafted box at the stroke of midnight to launch the new tax regime which overnight replaced the messy mix of more than a dozen state and central levies built up over seven decades.
The government promises that the transition to a single, nationwide tax on goods and services will streamline business and boost the economy by tearing down barriers between 31 states and union territories.