In a bid to ensure greater popularity and acceptance towards the greatest tax reform in India’s tax history, Bollywood megastar Amitabh Bachchan has been roped in to promote Goods and Services Tax (GST).
Ahead of the sweeping tax reform’s implementation scheduled from July 1, the Central Board of Excise and Customs has posted a 40-second video featuring the star.
“GST – An initiative to create a unified national market,” the finance ministry said in a tweet, attaching the video.
In the video, Bachchan is seen explaining GST as a unifying force just like the three colours in the national flag. GST is an initiative to create ‘one nation, one tax, one market’, Bachchan said in the promotional video.
Ace badminton star PV Sindhu was the former GST ambassador.
GST will enable simplifying the web of taxes, regulations and border levies by subsuming an array of central and state levies including excise duty, service tax and VAT.
It is being promoted as the most significant economic reform since BJP government came to power in 2014 and is expected to escalate as much as two percentage points to the GDP growth rate.
A four-layered structure that exempts or imposes a low rate of tax (five per cent) on essential items and top rate of 28 per cent on cars and consumer durables has been finalised. The other slabs of tax are 12 and 18 per cent.
— Ministry of Finance (@FinMinIndia) June 19, 2017