GST Launch — One Nation, One Tax

Top leaders, industrialists, economists and celebrities on Friday descended to witness the launch of landmark GST at the historic Central Hall of Parliament which opened for a midnight ceremony for the first time in two decades. President Pranab Mukherjee, who piloted the first constitutional amendment for unifying more than a dozen central and state taxes, shared a specially erected dais in the circular hall with Prime Minister Narendra Modi and Vice- President Hamid Ansari.

The landmark Goods and Services Tax, which was rolled out as soon the clock chimed midnight on Saturday, was touted by many as the biggest tax reform in Indian history, promising a stronger economy and less corruption. Before GST, there were several monumental fiscal reforms introduced by the government over the years which shook up India's economy. Read on to know more about some major measures..

His skills honed by managing public expectations over demonetization, PM Narendra Modi cautioned the nation that adjusting to GST would be a bit like getting used to a new pair of spectacles. "Even if you have a trusted doctor who does numbers for your glasses, you always need a couple of days to get used to a new set of spectacles," he told an assembly of politicians and celebrities in Parliament's Central Hall on Friday.