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GST to make India a simpler, more revenue generating economy: Amitabh Kant

"GST will make India a formal, easier & simpler, a more revenue generating economy & 1 tax, 1 country economy. Will give a push 2 #MakeinIndia," Kant said in tweet.

PTI|
Updated: Jun 30, 2017, 06.18 PM IST
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"GST -- with a simplified compliance model & free flow of goods & services, Indian Startup & E-commerce scene will get a big impetus," he added.
"GST -- with a simplified compliance model & free flow of goods & services, Indian Startup & E-commerce scene will get a big impetus," he added.
NEW DELHI: Niti Aayog CEO Amitabh Kant today said implementation of Goods and Services Tax (GST) will make India a formal, easier and simpler, and a more revenue generating economy.

"GST will make India a formal, easier & simpler, a more revenue generating economy & 1 tax, 1 country economy. Will give a push 2 #MakeinIndia," Kant said in tweet.

"GST -- with a simplified compliance model & free flow of goods & services, Indian Startup & E-commerce scene will get a big impetus," he added.

In another tweet, Kant said, "Artificial Intelligence will add $15.7 trillion to global economy by 2030 - more than the combined output of China & India - PwC."

GST will be rolled out nation-wide from midnight tonight, overhauling India's convoluted indirect taxation system and unifying the over USD 2 trillion economy with 1.3 billion people into a single market.

Do you know what can stump you right after GST's midnight stroke?

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Where GST will be felt first

30 Jun, 2017
India is all set for the historic tax reformation — the long-awaited Goods and Services Tax rolls out on Friday midnight. The single biggest tax reform in independent India is based on the principle of “one nation, one market, one tax”. If you are going for a late-night party tonight or buy your favourite shirt from Myntra tomorrow, here is how much you need to pay.
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