India is going to implement GST from this July for its taxation. Is it a good taxation law?
I think it is a wise move taken by the Indian Government. Presently, we are paying so many taxes that we actually do not know how much is paid towards what. You have the Sales Tax, the Service Tax, the VAT and like that. Can you tell how much is the actual cost of your good and how much tax you have incurred? But, when once the GST comes into effect, I hope we can clearly identify the actual cost and the tax paid for each good or service. This brings transparency in the system and the traders can not manipulate prices.
Yes Sunil I think it is a good decision and better taxation law than existing as all tax collected will directly go to central government so corruption rate will fall down for more detail you could see the benefits of GST here - http://techalgorithm.com/full-form-of-g … on-of-gst/
Yes, I think implementing GST is a really good decision as we will actually get to know how much tax we have paid and the plus point is that there is no GST on the ordinary things, mainly bought by BPL families and it don’t force middle class or upper middle-class families to give extra bucks.
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