Major Takeaways GST : Assessment of Impact


The most awaited change GST which the people of the India were waiting immensely. It is one of the biggest climate change after the 1991 economic reforms.Tax system in India has always been very complicated, hundreds of taxes to be paid and it become a trouble for the Agencies as well as the people so it was also major reason that why we were not getting sufficient taxes which were used for the betterment of the society.India having a population of 1.25 Billion People but there are only few who pay the Taxes,and even those who pay , they try to reduce their taxable amount by some different incorrect means and GST is going to curb this all.

Here I am not going to tell about GST as it has been discussed at many places,many articles have been published,I just want to make my point on them who are against it and protesting.Are they correct?

One day we have to take this decision if we want to move forward and we want to modernise our economy and reduce our number of tax systems and create a ease of doing business then we have to take such kind of decisions.

There will be some pain the short term but over a long term of period I think GST is going to be a game changer. everyone is learning, everyone is trying to bring as simple a solution as close to the old regime so that you do not get into a very simplistic situation so I think these will get sorted out over a period of time.

GST is not to give any more profit to anyone, basically the idea of GST is that it should be passed on to the customer so that the inflation comes down and or is under check and government earnings little bit more revenue and there is a more simplistic form of ease of doing business and there is a more wider tax net where everybody large to small to medium everyone comes into that tax bracket that is the basic idea of GST.

Now if because of that somebody gets benefit and tries to profiteer then I think we need to control that. In India everybody tries to find a short cut or tries to find another way of making more money so you need to bring in some check and balance.

The Rates may be problem in the initial stage but ,as time will pass,let the GST council meet ,they will decide based on experience of the days and after analysing can reduce them.Government also needs to do a a proper assessment on every section of society Rich or Poor and bring changes what are required.

We should all be with the Government ,let them do ,and should support at least for few days , Government will it self don't want to do any harm or trouble to the people
Today's Midnight will witness the change of Indirect Tax Regime Change in the Country.
Lets hope for the Best

We will meet again on "The World Platform" after few day to discuss was it a right step.
Till then , Stay Positive and I will again Quote
Abraham Lincoln
"Government of the people, by the people, for the people, shall not perish from the Earth."

Thank you












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