GST milestone in India's economic landscape, reduced compliance burden: PM Modi
With the Goods and Services Tax (GST) regime completing four years, Prime Minister Modi added that it has also significantly increased transparency, compliance and overall collection
- Jun 30, 2021,
- Updated Jun 30, 2021 3:27 PM IST
Prime Minister Narendra Modi said on Wednesday that the GST has been a milestone in the economic landscape of India as it has decreased the number of taxes, compliance burden and overall tax weight on the common man.
With the Goods and Services Tax (GST) regime completing four years, Modi added that it has also significantly increased transparency, compliance and overall collection.
A nationwide GST, which subsumed 17 local levies like excise duty, service tax and VAT, was rolled out on July 1, 2017.
Also read: FM Sitharaman, US Treasury Secretary Janet Yellen discuss global minimum tax
Prime Minister Narendra Modi said on Wednesday that the GST has been a milestone in the economic landscape of India as it has decreased the number of taxes, compliance burden and overall tax weight on the common man.
With the Goods and Services Tax (GST) regime completing four years, Modi added that it has also significantly increased transparency, compliance and overall collection.
A nationwide GST, which subsumed 17 local levies like excise duty, service tax and VAT, was rolled out on July 1, 2017.
Also read: FM Sitharaman, US Treasury Secretary Janet Yellen discuss global minimum tax