GST will prevent Black Money: PM MODI

New Delhi, July 02: The Goods service Tax has been started here on Saturday, From this, the Prime Minister has been commented on the New GST.

While Speaking at the special ceremony in the Central Hall of Parliament., He said that, " indirect tax regime was a shining example of cooperative federalism and that it would help in preventing the menace of black money and corruption"

He also said that "India is an example of cooperative federalism. It is the result of long and continuous thought process," the Prime Minister said

Mr.Modi said that, "GST is a transparent and fair system that prevents black money and corruption and promotes new governance culture,” said PM Modi, highlighting that the GST was a result of combined efforts of all political parties. “GST is a result of a long thinking; all states along with Centre discussed for years,"

Invoking Sardar Vallabhai Patel, the country's first home minister, Modi said, "the GST is an economic integration of India just like what Sardar Vallabhbhai Patel had done decades back to integrate the country."

Listing out benefits of GST, the prime minister said it would bring an end to the long wait at toll plazas with GST integrating 31 states and Union Territories as one. He stated that GST has the potential to end harassment at hands of officers and expressed hope that traders would transfer its benefits to consumers.

"GST is a good and simple tax regime that will eliminate the compounding effects of the multi-layered tax system,” he said.