Here Are 5 Reasons Why GST Is Unique In It’s Own Way…

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  1. France was the first country to introduce GST (in 1954), currently implemented in 106 countries in one form or the other. (economic times)

  1. The launch of GST was one of the few historically marked midnight sessions held by the parliament at central hall, other 3 sessions of this scale were: Declaration of India’s independence (15 august 1947), silver jubilee of Indian independence (15 august 1972), and the Golden Jubilee of the same occasion (15 august 1997). ( Indian today & the Indian express)

  1. The authorized capital of GSTN is INR 10 crore (US$1.6 million). The state government and the central government holds equal percentage of shares i.e. 24.5% each and the rest 51% resides in the hands of privet banking firms (non-government financial institutions). (gstn.org)

  1. For smooth running of GSTN 64,000 officials have been trained on the GST portal from February 2017 till June 2017 and also the GSTN IT systems developed by Infosys, has undergone load tests, performance tests, vulnerability tests, security and all other mandatory tests to assure efficiency and efficacy of the system. (gstn.org)

  1. If GST was not implemented before September 16, 2017, the government would lose the power to collect any indirect taxes under any condition till the date GST was implemented. (times of India)


One Response to “Here Are 5 Reasons Why GST Is Unique In It’s Own Way…”

  1. A.K.Pandey

    Hi Admin,
    Thanks for sharing this blog with us, I read your article, your blog contains very important information to us, I appreciate your effort. its look like you have GST Expert level of knowledge.

    Reply

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