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India Gazette
30 minutes ago
- India Gazette
"Landmark reform that reshaped India's economic landscape": PM Modi on 8 years of GST
New Delhi [India], July 1 (ANI): As the Goods and Services Tax (GST) completed eight years today, Prime Minister Narendra Modi on Tuesday said that the landmark reform has reshaped India's economic landscape by 'greatly improving' the Ease of Doing Business, and fostering 'true cooperative federalism' in the country. The GST was introduced in India on July 1, 2017, during a historic midnight session of Parliament that convened on June 30. It replaced multiple indirect taxes with a single nationwide system, helping create a common national market and reducing the cost of doing business. The Prime Minister emphasised that GST has significantly eased the compliance burden on businesses, especially for small and medium enterprises (SMEs), thereby improving the overall Ease of Doing Business in the country. In a post on X, PM Modi said, 'Eight years since it was introduced, GST stands out as a landmark reform that has reshaped India's economic landscape. By reducing the compliance burden, it has greatly improved the Ease of Doing Business, particularly for small and medium enterprises. GST has also served as a powerful engine for economic growth, while fostering true cooperative federalism by making states equal partners in this journey to integrate India's market.' India's Goods and Services Tax (GST) system has achieved a significant milestone in 2024-25, with a record gross collection of Rs 22.08 lakh crore, showing a 9.4 per cent growth over the previous year. According to a release by the Finance Ministry, the average monthly GST collection stood at Rs 1.84 lakh crore, the highest since the GST was launched in 2017. GST collections have steadily increased over the years, rising from Rs 11.37 lakh crore in 2020-21 to Rs 20.18 lakh crore in 2023-24, reflecting stronger economic activity and better compliance. As of April 30, 2025, there are now over 1.51 crore active GST registrations, showing growing participation in the tax system. The GST Council, established under the Constitution to guide GST policy, has played a pivotal role in shaping the system. It is chaired by the Union Finance Minister and includes state finance ministers and other key officials. Since its formation in 2016, the Council has held 55 meetings and made many important decisions to simplify and make the GST system more business-friendly. Now in its eighth year, the GST is widely regarded as one of India's most significant tax reforms. Businesses -- especially small and medium-sized ones -- benefit from easier compliance, faster refunds, and fewer tax-related hurdles. The recent Deloitte GST@8 survey confirms strong industry support for GST. It found that 85 per cent of business leaders had a positive experience with the system. Key reasons included simplified tax processes, smooth flow of input tax credits, the removal of outdated state taxes and checkpoints, and improved use of digital technology. Among small and medium enterprises (SMEs), support for GST also grew--from 78 per cent last year to 82 per cent this year--showing broader acceptance of the system. As GST enters its ninth year, it continues to evolve, focusing on ease of doing business, improved compliance, and stronger economic growth. (ANI)
The Hindu
31 minutes ago
- The Hindu
Conviction rate improved in the U.T. after three new criminal laws came into effect: Puducherry Chief Minister
The conviction rate has increased in the Union Territory after the three new criminal laws — the Bharatiya Nyaya Sanhita, the Bharatiya Nagarik Suraksha Sanhita and the Bharatiya Sakshya Adhiniyam — came into effect in July last year, Chief Minister N. Rangasamy said here on Tuesday. Participating in a programme organised by the Police department to commemorate the first anniversary of replacing the Indian Penal Code with the three criminal laws, the Chief Minister said out of 654 cases instituted by the courts in Puducherry, 337 had been disposed. As many as 319 cases had resulted in conviction with the overall conviction rate pegged at 95% for the Union Territory against 75% in old criminal laws, he said. 'The new laws have been successfully implemented in Puducherry and the law and order situation has also improved. The police should take all necessary steps to maintain the present status of the Union Territory being a peaceful region,' he said. Home Minister A. Namassivayam in his address said the Police department had recruited 680 personnel to the force after the AINRC-BJP government came to power. Steps were being taken to recruit 200 maritime home guards and fill 74 posts of sub-inspectors, he said. Minister for Law K. Lakshminarayanan said the implementation of any new law would encounter 'teething problems.' However, the criminal laws were an exception as the implementation was smooth. The 'well-crafted laws' were debated properly in the Parliament for almost two years before being passed, he said. Speaker R. Selvam, DMK legislator Anibal Kennedy, Chief Secretary Sharat Chauhan and Director General of Police Shalini Singh were also present.
Indian Express
36 minutes ago
- Indian Express
Trump says US pushing for Gaza ceasefire by ‘sometime next week'
The United States is pushing for a truce in Gaza by 'sometime next week,' President Donald Trump said Tuesday. Trump, responding to reporters who asked if a ceasefire in the ongoing war between Israel and Palestinian factions could be reached before Israeli Prime Minister Benjamin Netanyahu's visit to the White House, scheduled for July 7, said: 'We hope it's going to happen, and we're looking for it to happen sometime next week,' Trump said, speaking to reporters before departing Washington for Florida, adding, 'We want to get our hostages back.' The swift end to Israel's 12-day war with Iran has sparked renewed hopes for a breakthrough in Gaza, where more than 20 months of war have left over two million people facing a humanitarian catastrophe. .@POTUS on Gaza: 'We hope [a ceasefire] is going to happen and we're looking for it to happen sometime next week. We want to get our hostages back.' — Rapid Response 47 (@RapidResponse47) July 1, 2025 While Trump has previously urged Israel to 'make the deal in Gaza,' the situation on the ground continues to deteriorate. An Israeli government spokesperson told reporters Monday that Netanyahu was working to end the war 'as soon as possible' through the release of hostages — more than half of whom are believed to be dead — and the defeat of Hamas. The Israel Defense Forces (IDF) issued new 'evacuation orders' warning of imminent assaults around densely populated Gaza City. Civilians were told to head south to overcrowded coastal zones with minimal infrastructure, limited access to clean water, and scarce medical services. Approximately 80% of Gaza is now either under IDF control or covered by such evacuation directives. The IDF said it plans to advance into central Gaza City to engage Hamas militants. On Monday, Israeli tanks and infantry pushed into the Zeitoun neighbourhood on the eastern edge of the city, while artillery shelled areas in the north and Israeli aircraft bombed at least four schools after warning families to evacuate. Later in the day, an airstrike hit a crowded beachside café in Gaza City, killing at least 22 people, including women, children, and a local journalist. The IDF said its operations targeted militant infrastructure in northern Gaza, including command and control centres, and that measures were taken to reduce civilian harm. Nonetheless, the mounting toll on civilians has sparked growing international calls for an immediate end to hostilities.
