<h1>India to Launch GST on July 1 to Simplify Taxes, Cut Costs, and Combat Evasion; Cabinet Approves Supplementary Bills.</h1> India's Finance Minister announced the anticipated rollout of the Goods and Services Tax (GST) from July 1, aiming to create a unified market, reduce commodity costs, and curb tax evasion. The GST will replace 17 state and central levies, streamlining the tax system. The government has also introduced measures to limit cash transactions, following the demonetization of high-denomination notes to combat tax evasion and terrorism financing. These reforms are expected to support India's economic growth, address public sector bank issues, and encourage private investment, despite challenges like volatile oil prices. The Union Cabinet has approved supplementary GST legislations for parliamentary consideration.