Union Finance Minister Arun Jaitley said, Goods and Services Tax (GST) will officially be launched on 30th June midnight. Briefing media in New Delhi, Mr Jaitley said the launch function will be held exactly at midnight in the Central Hall of Parliament.
He said President, Prime Minister, Vice-President, Chief Ministers, and Opposition leaders will be part of the event. Mr Jaitley also said all decisions taken by the GST Council have been taken with consensus.
He said, as GST is a more efficient system which is prone to checking evasion, revenues will grow, and spending capacity of Centre and state governments will increase. The Minister said, GST will have a positive impact on GDP. He, however, said in short term, there will be some challenges in switchover to GST.Mr Jaitley also said, anti-profiteering clause in GST is a deterrent which is not intended to be used unless forced to.