A tableau displaying objectives of GST was on Thursday showcased during the Republic Day parade at Rajpath in New Delhi.
The tableau’s front part highlighted the objectives of the Goods and Services Tax (GST) like replacement of multiple Central and state level indirect taxes by it along with the basic essence of the proposed tax — one nation, one tax, one market. Its rear portion depicted various expected benefits of the GST like growth in investment, production of goods, services leading to higher exports, employment and also increase in GDP.
Union power minister Piyush Goyal, who was among the other ministers present to witness the parade, stood up from his seat and clapped as the GST tableau passed through the iconic Rajpath.
The GST, which aims to subsume a multitude of taxes, is the single biggest tax reform initiative undertaken since Independence.
The GST is likely to be rolled out from 1 July, as against 1 April decided earlier by the government. The tableau was by the Central Board of Excise and Customs (CBEC), apex indirect taxes related policy making body.