From Sachin Menon, Partner and Head, Indirect Tax, KPMG in India


"As the nation celebrate the birth of a historic GST at midnight today, which is expected to change the course of economic development of the nation, I hope all of us appreciate that like every new born, GST also have to go through the teething troubles"
"India's GST is the example of co-operative federalism at its best. The way Arun Jaitley and the state finance ministers conducted the process to usher in this mother of all reforms since independence, is remarkable "
"With 80% of the goods  falling under 12 and 18% bracket leading  to fall in prices , the GST will enhance the buying power of the consumers without real increase in their income  which will in turn spur demand"
"It will be interesting to know that annual indirect tax budget will no longer be central finance ministry show, as going forward the central GST budget needs the approval of GST council. "

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