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Major News and Events of 01 July 2017

What Happened on 01 July 2017


GST comes into force after mid-night launch

According to reports, Goods and Service Tax' (GST), India's biggest tax reform since independence, came into force last night. This brings the entire country under single taxation system. GST was launched by President Pranab Mukherjee and Prime Minister Narendra Modi at a special function in Central Hall of Parliament.

$500,000 contribution by India to UN Peacebuilding Fund

According to reports, India has contributed five lakh US Dollars to the UN Peace Building Fund. India has been a Member of the Peace Building Commission since its inception in December 2005 and has so far contributed five million US Dollars to the Peace building Fund. The fresh contribution of five lakh US Dollars to the fund will be effected over the coming days.