One nation, one tax; Sachin tweets: looking forward to GST bill
With many eyes on India’s biggest tax reform, Sachin Tendulkar, former Indian cricket team captain tweeted in favour of the GST bill on Tuesday.
The much awaited GST bill anticipates hopeful passage by the Rajya Sabha in the Monsoon Session of the Parliament on Wednesday.
Tweeting in favour of the ‘one nation, one tax’ regime, the cricketer stated that he is looking forward to the bill delivering benefits.
— sachin tendulkar (@sachin_rt) August 2, 2016
In an earlier comment, Finance Minister, Arun Jaitley was quoted stating that this whole idea of one nation one tax is extremely important for India, in not only reducing the level of tax but also for providing an ease (of doing business) and eliminating any forms of corruption.
The minister also stated that India cannot afford to have an indirect tax system where one is taxed at every point.
GST, a broad-based tax, that seeks to convert all 29 states into a single market with an indirect taxation system, will need certain constitutional amendments to remove the state boundaries and the multiplicity of taxes to create a single national taxation system.