Cabinet passes resolution on GST, calls it game-changing reform

New Delhi: The Union Cabinet on Thursday passed a resolution expressing gratitude to Chief Ministers of States and others for their cooperation in introduction of GST.

“GST is the biggest tax reform in independent India. It is one of the most sweeping indirect tax reforms in any federal polity in the world, in which complexities such as multiplicity of taxes and cesses, multiplicity of rates, multiple compliances, and cascading of taxation will be removed. This game-changing reform will result in significant ease of doing business as well as reduction in the overall tax burden on the consumers and the common people," an official statement said.

"GST is a shining example of national integration and of fiscal federalism at its best. It is a testimony to the working of India’s federal democracy. It has been made possible because of close cooperation between the Central Government and all the State Governments as well as all political parties, " it added.

"The Cabinet which met on 22nd June, 2017 under the Chairmanship of Prime Minister Narendra Modi acknowledged the contribution made by all State Governments, by all Chief Ministers and State Finance Ministers and by all political parties which made it possible for GST to be implemented in the country from 1st of July 2017. The Union Cabinet expresses its gratitude to the Chief Ministers of all States, to the GST Council, to the Heads of all national level and state level recognized political parties, to all Members of Parliament, to all Members of State Legislatures and to all sections of society including trade and industry associations, " it said.