Wishes
GST Day 2022: Theme, Quotes, HD Images, and Wishes to share
Every year July 1 is celebrated as GST Day in India. The first GST Day was celebrated on 1 July 2018 to mark the first anniversary of…
Every year July 1 is celebrated as GST Day in India. The first GST Day was celebrated on 1 July 2018 to mark the first anniversary of the new indirect tax regime i.e. Goods and Services Tax (GST). This was the biggest step towards Indian tax reform. The purpose of implementing GST is One Nation-One Tax (One Nation, One Tax) system. In a country with a complex structure like India, GST worked to integrate the tax system.
According to news18.com, Goods and Services Tax is an indirect tax that is levied on the supply of goods and services and it has replaced many indirect taxes which were earlier present in India. On 29 March 2017, the Goods and Services Tax Act was passed in the Parliament and the Act came into force on 1 July 2017. It is worth noting that GST has become an example to the world due to the readiness of Indian taxpayers to participate in this unprecedented reform of the Indian tax system. According to the data released by the government, from July 2017 to May 2018, a total tax of Rs 10,07,395 crore has been collected. The tax collection figures for the 12th month i.e. June will be released in early July.
The Finance Ministry said, ‘With the removal of barriers to inter-state trade, a single market system will be established in India. By eliminating taxes at various levels and reducing transaction costs, it will facilitate business in the country and give impetus to the Make in India programme. One nation one tax and one market system will be established with GST.
The theme, Quotes, HD Images, and Wishes for GST Day 2022
