The Goods and Services Tax, to be rolled out next month as the biggest tax reform since independence, will help India achieve 9 per cent growth rate, NITI Aayog CEO Amitabh Kant said on Tuesday. He said GST will simplify India’s taxation system and help deal with tax evasion. “GST is India’s biggest tax reform since 1947…GST will help India in achieving 9 per cent growth rate,” Kant said at an event in New Delhi.
Noting that the implementation of GST is a dream of Prime Minister Narendra Modi, the NITI Aayog CEO said it will bring a big revolution in India’s taxation structure. Several experts have also said that GST is estimated to boost GDP by 1-2 per cent and bring down inflation by 2 per cent over the long term.
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