Referring to apprehensions about the capacity of the information systems to handle the switch to the new tax regime, Adhia said: "Only ones who will get affected are the ones who will not pay taxes".
Quoting Chanakya, PM Modi said hard work can overcome all obstacles and help us accomplish even the most difficult of objectives and added that just as Sardar Patel had ensured political integration of the country, GST would ensure economic integration. He added that the consumers were not complaining about the new indirect tax system because the government kept the rates at reasonable levels.
The moment was followed by a promotional video on the Goods and Services Tax. However, under the GST regime, service tax and VAT amount will be subsumed into one single rate.
So-called "sin" goods like tobacco will be slapped with extra levies, while states will still be allowed to separately tax some products including alcohol, petrol and aviation fuel.
"To commemorate the historic occasion, a function will be held in the central hall of parliament on the midnight of June 30-July 1, 2017", said the spokesman.
Talking about the challenges ahead, industry experts said that while the helpdesks and sector-specific workshops have instilled confidence among traders, their role will become vital during the initial few months of the implementation as the new tax regime is tech-heavy and many traders are not well trained in technology. "Best brains in the country debated over it continuously, that is why we could see the GST roll-out today".
"(The) GST paves the way for the "One Nation, One Tax" ideology", said Devendra Kumar Vyas, chief executive officer at Srei Equipment Finance Ltd.
The government published a 213-page list of rates last month showing nearly every item for sale in India.
This trade body, allegedly backed by Congress, has claimed support from 40 trade unions present in Delhi alone, which includes traders from Chandni Chowk cloth market association, the Tank Road association from Karol Bagh, the Commuter Traders' Association from Nehru Place, the Delhi Marble Association, and the Footwear Association of Ballimaran.
"Long term, and we're talking more than five years, we're talking about eight to 10 years, I think it will lift growth potential, that's for sure", he said. "It defeats the goal of one tax".
He said the current tax base was very low, where of the 130 crore population, only 78 lakh people showed income above Rs 5 lakh, of which 61 lakh are salaried people.