Cities

As countdown to GST rollout begins, traders called for bandh

trader shutdown-wefornews

New Delhi, June 30, 2017: Just a few hours ahead of the rollout of India’s biggest tax reform measure — Goods and Services Tax (GST), business traders across the country are calling for a shutdown as a mark of protest against the implementation of indirect tax reform.

In Bhopal, protesting against the launch of GST tonight, business traders called for a bandh and as per reports all major markets will remain shut today.

Meanwhile, in Kanpur, traders stopped 4102 Jhansi Express train in protest against the rollout.

GST, termed as the most radical tax reform since Independence, seeks to subsume all central indirect taxes like excise duty, countervailing duty and service tax, as also state levies like Value Added Tax, entry tax and luxury tax, to create a single, pan-India market.

Going back in history, GST was first discussed in the Kelkar Task Force report on indirect taxes in 2003 and a proposal to introduce a national GST by April 1, 2010, was first mooted in the Budget Speech for the financial year 2006-07.

Decks were cleared for the GST regime with parliamentary approval to Central Goods and Services Tax (GST) Bill, Integrated GST Bill, Compensation GST Bill and Union Territory GST Bill 2017, on April 7.

Read More: After a decade, GST set for midnight launch in Parliament today

Wefornews Bureau

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top