Arun Jaitley highlights benefits of GST as it completes one month
GST was launched on July 1 midnight in the presence of Prime Minister Narendra Modi and former President Pranab Mukherjee in the Parliament.
Jaitley, during his address to the Lower House, said: "Earlier people used to transact in cash or keep money on foreign soil which is now not possible with GST. So we can see the benefits of GST."
The FM even stated that GST will benefit the states as it will fetch more taxes for the respective governments.
"If there are more taxes earned by the state government then there will also be more developmental works," the FM said.
Jaitley assured that the Centre will compensate if any state government loses out their income due to the new tax slabs.
The GST Council meet will be held on Aug 5.
The Council will meet once in every month.
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Image: Official Facebook page of Arun Jaitley.
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