Sanjeev Sharma
Tribune News Service
New Delhi, June 20
Tribune News Service
New Delhi, June 20
Finance Minister Arun Jaitley on
Tuesday said that the GST will be launched from mid-night of June 30-July 1.
The GST launch function would be
held at Central Hall of Parliament and all MPs, CMs and state finance ministers
would be invited.
Jaitley said: “President Pranab
Mukherjee, Vice-President, PM, Lok Sabha Speaker and former PMs Manmohan Singh
and HD Deve Gowda to be on dais for GST launch.”
He said over medium to long term,
revenues of the Centre, states will grow, besides the size of formal economy.
Jaitley said that in short term,
there would be some challenges in switchover to GST.
“We had been saying GST will be
rolled out by July 1; nobody had any business not to be ready,” he said.
He said revenue would go down under
GST, but tax compliance will increase thereby protecting the
base
He said: “Anti-profiteering clause
in GST is a deterrent, which is not intended to be used unless forced to.”
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