One year of GST: 'It has long term benefits for the economy', says Union Minister Piyush Goyal

New Delhi, June 1: On the completion of one year of the rolling out of the GST plan, the government is to celebrate GST Day at the Ambedkar International Centre to mark the first anniversary of the launch of the new indirect taxation regime.

The NDA government's flagship tax reform, the goods and services tax (GST), was rolled out from July 1 last year with the motto 'one nation, one tax'.

Union Minister Piyush Goyal at GST Day celebrations in Delhi said,''Goods & Service Tax has long term benefits for the economy. I would like to thank all political parties and leaders for their cooperation on GST. It has brought transparency.''

He also said,''There was no disruption & economic growth was not affected due to implementation of GST. I would like to tell P Chidambaram that 'Angoor khatte hain': Union Minister Piyush Goyal on P Chidambaram's statement that every step taken by BJP govt with regard to GST was deeply flawed'.''

''Earlier people were unaware of the tax rates and cess. GST has changed that. Now they know what they are paying at different stages,'' Goyal said.

Arun Jaitley said,''Goods & Service Tax is a monumental economic reform. The need for GST was obvious as earlier indirect tax regime was complicated.''

Finance Secretary Hasmukh Adhia during the GST Day celebrations which was held in Delhi said that 31 states passed the GST Bill in record time of one and a half months.

Speaking during the event, Adhia said,''It was interesting to see how the states defended their interests irrespective of party line and sitting through 27 meetings of GST Council. 31 states passed the GST Bill in record time of one and a half months.''

''June GST collection is Rs 95,610 Crore.'' he said.