GST -Day: This tax reform of the Modi government made it easier to do business for small traders

New -Delhi, June 29 (IANS). Every year in India, July 1 is considered ‘GST Day’. On the same day, eight years ago in 2017, a tax on goods and services (GST) was implemented in the country’s largest tax reforms. GST was implemented by the Modi government under the ease of trade in the country. In this, different taxes are imposed under GST by the state governments and the central government, so that the rules are easily adhered to and the traders can easily run their business by paying a tax instead of different taxes. GST was implemented in 2017, but the idea of ​​bringing it first comes in the year 2000. At that time, a committee was established to draft a concept of GST law. In 2004, the committee submitted its report to the government. Two years later, in his budget speech in 2006, then -Minister of Finance, P Chidambaram, announced to implement GST across the country in 2010, but it could not be implemented because of the differences between the states and the central government on its terms. After the Modi government came in 2014, this bill was faster and the GST bill was approved by Parliament in May 2015. This was followed by the first meeting of the GST Council in September 2016 and on July 1, 2017, it was implemented across the country. The purpose of the implementation of GST was to implement the idea of ​​’one Land-one Market Tax’ in the country. With the implementation of GST, many other taxes such as service tax, VAT, purchase tax, excise duty, entertainment tax were abolished. However, still alcohol, petroleum products and blunt service are kept free of GST and the old tax system applies to them. After implementing GST, the country’s tax collection also advanced rapidly. A total of Rs 20.18 lakh crore gst was collected in FY 24 and during this time the average GST collection was Rs 1.68 Lakh Crore. At the same time, this figure was Rs 11.37 Lakh Crore in FY1 21 and during this time the average GST collection Rs 0.94 Lakh Crore was. In May 2025, the GST collection was Rs 2.01 Lakh Crore, which in May 2024 was 16.4 percent more than the 1.72 Lakh Crore calls.