Historical goods and service tax (GST) has come into force just a month and its benefits have started to appear. The business process simplified and it has changed the entire economy due to GST. The special thing is that it has stressed the culture of new sincerity in the country.
This is what Prime Minister Narendra Modi said in the ‘Mana Ki Baat’ program on Sunday. The Prime Minister said that GST is a great example of the success of the collective power of India. It is also a campaign of social reform in a way.
The PM said that GST has been implemented almost a month and its benefits have started to appear. PM expressed satisfaction over the fact that people are writing to him in a letter that how GST has reduced the prices of things needed for poor. This has led to increased customer confidence in the trader.
Referring to the impact of GST on the transport and logistics sector, the PM said that now the movement of trucks has increased and the time seems to be short of time. Due to the speed of trucks, pollution has decreased. The luggage is also reaching very quickly. This facilitates economic momentum along with convenience. Due to the different tax structure earlier, the maximum time spent in the transport and logistics sector was to complete the paper.
Terming GST as a “good and simple tax“, the Prime Minister said that this has had a positive impact on the economy. He said that just as old Ascis has made new registrations under GST, this has created new faith in the whole country. Implementation of GST in India will be the subject of research for universities all over the world.