While lauding the Goods and Service Tax (GST) regime that has been rolled out at 12 am on Saturday as a historic move for the country as well as the State, Chief Minister Trivendra Singh Rawat appealed to the people, particularly, the business community, to welcome it warmly. “The regime being meant to enforce a one tax system across the country, it would help the nation progress rapidly, bringing prosperity for one and all,” he added. He thanked Prime Minister Narendra Modi and the Union finance minister Arun Jailtley for introducing the one nation, one tax, one market regime. “A new era has set in with the destination-based tax system being introduced. Now, the old system of paying taxes individually to the States that the goods cross during the trasportation has been done away with. Besides, it would ease the process of the distribution of taxes among the states. Earlier, we had to pay several kinds of taxes. Now, one nation, one tax and one market era having set in, it would boost the nation’s Gross Domestic Product (GDP). The states would ultimately reap the benefits,” he said.
“Under the new regime, there are only four kinds of tax slabs- 5 percent, 12 percent, 18 percent and 28 percent. Uttarakhand being a consumer state, it would reap immense benefits through GST,” he said.
CM further said that history has been made with the Constitution being amended for the first time to bring a reform in the tax system with the cooperation of all the parties.