PANAJI: Hailing the Goods and Services Tax ( GST ), BJP chief Amit Shah today said the new tax regime would accelerate the country's economic growth and bring an end to the 'inspector raj'.The GST was formally launched in Delhi in a midnight function in Parliament. "The launch of GST has dissolved over 17 different taxes, converting them into a single tax, which will help traders, businessmen and small entrepreneurs. "But this tax reform will accelerate the economic growth of the country making it a global leader...it will end several tax-related legislations," Shah said.Praising President Pranab Mukherjee and Prime Minister Narendra Modi for the GST launch, he said the midnight witnessed India's biggest tax reform since Independence. "We have achieved the dream of 'one country, one tax' under the leadership of President Pranab Mukherjee and Prime Minister Narendra Modi. But if there is any difficulty, when Parliament can pass the law, it also has the power to amend it.

Source: Economic Times July 01, 2017 18:00 UTC