Besides subsuming several central and states taxes, it will help the government check inflation and create a friendly and hassle-free environment by easing the complex process to do business in the country.
Praful Patel criticised the Congress, TMC and Left for not attending the GST launch function saying, "All parties unanimously passed GST in Parliament. State governments of different parties approved the rates."
The present GST tax rates are divided into four slabs -- 5 per cent, 12 per cent, 18 per cent and 28 per cent -- as decided by the powerful GST Council headed by Union Finance Minister.
Goods and Services Tax: Watching IPL matches in stadiums and buying sports equipment will attract higher taxes after the launch of the GST on midnight of June 30.
GST Rates: Here is how the new Goods and Services Tax (GST) will impact middle-class households.
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