It has been one year since the Goods and Services Tax (GST) plan was rolled out in India. Prime Minister Narendra Modi, on Sunday, congratulated the people of the nation as the landmark decision completes one year of successful implementation in the country.
Modi took to Twitter to acknowledge the "positive change" the GST has brought about in the country.
I congratulate the people of India on the special occasion of GST completing one year. A vibrant example of cooperative federalism and a 'Team India' spirit, GST has brought a positive change in the Indian economy. #GSTForNewIndia.
Prime minister Modi also shared a poster on "One Year of GST" which listed down the achievements of the One Nation, One Tax.
"GST has brought growth, simplicity and transparency. It is boosting formalisation, enhancing productivity, furthering 'Ease of Doing Business', benefitting small and medium enterprises," Modi wrote alongside the poster.
Minister of Railways and Coal Piyush Goyal also congratulated the nation on completion of one year on GST by calling it "the most transformative tax reform in India ever".
"Congratulate the nation on completion of one year of GST -- the most transformative tax reform in India ever. One Nation, One Tax and One Market due to GST has led to economic growth, simplicity for people and transparency in the economy," he tweeted.
Following Modi's lead, Goyal also listed down how GST brought a "transformative change in the lives of people through ease of doing business, providing opportunities for SMEs, formalisation, and relief for consumers".
GST was launched on July 1, 2017, in a ceremony held in the Central Hall of Parliament on the midnight of June 30, 2017. Though met with a certain caution, especially by the real estate sector which took a big hit ever since its implementation, the reform has benefited the Indian economy, also boosting the growth of South Asia. GST is touted as the biggest economic reform since Independence.