New Delhi: A tableau displaying objectives of Goods and Services Tax (GST) was on Thursday showcased during the Republic Day parade at Rajpath here.
The tableau’s front part highlighted the objectives of GST like replacement of multiple Central and State level indirect taxes by it along with the basic essence of the proposed tax – one nation, one tax, one market.
Its rear portion depicted various expected benefits of the GST like growth in investment, production of goods, services leading to higher exports, employment and also increase in GDP.
Union Power Minister Piyush Goyal, who was among the other ministers present to witness the parade, stood up from his seat and clapped as the GST tableau passed through the iconic Rajpath.
The GST, which aims to subsume a multitude of taxes, is the single biggest tax reform initiative undertaken since Independence.
The Goods and Services Tax is likely to be rolled out from July 1, as against April 1 decided earlier by the government.
The tableau was by Central Board of Excise and Customs (CBEC), apex indirect taxes related policy making body.