GST (Goods & Service Tax) now came into existence in India, from 1st July the country moved to the new Indirect Tax regime which is a subsume nearly a dozen of central and state taxes. From the point of view of the consumer it will reduce the overall tax burden on goods. There are various exemptions in this tax regime which make it more simpler, from the point of view of the businesses. In the last session in reference of GST in the parliament the Honorable President of India Mr. Pranab Mukherjee quote that " GST is a tribute to the maturity and wisdom of India’s democracy".
There are many things which is cheaper in this tax regime like milk, curd, unbranded honey, scooters, bikes and many more the list is too big. Only the thing is that after implementation of the GST the branded things are costlier as before. But now the GST came in India it is a proud moment for us that the world largest democratic nation has its own tax regime which included all the indirect taxes of central and state taxes in a one tax
@akshaykadre i am planning to organise meetup in Pune for steemians. Would you be able to attend the same next week if we decide to meet in viman nagar or wagholi area. It would be fun to meet fellow steemians and click some photoes which can go viral on social media too. Kindly reply me
@akshaykadre gst has picked up very well in India and the first moth collection was more than $5 billion it seems. There have been lot of resistance but finally the GST has marched ahead and is being accepted as the mechanism of indirect taxes, though these rates and slabs at which government is penalising is much higher than global peers i guess its technologically quite advanced
GST began well but it has created tremendous issues for the small businesses
@akshaykadre its a good introductory post. Today i found this in the search on steemit though it seems to be older than 7 days. The gst has kickstarted well in India and the first moth collection was more than $5 billion or Rs.42000 crores. There have been lot of resistance but finally the GST has marched ahead and is being accepted as the mechanism of indirect taxes, though these rates and slabs at which government is penalising is much higher than global peers i guess its technologically quite advanced infrastructure is being put in place. The money should be utilised for development of country and should not be wasted in the name of allotting contracts in the name of infrastructure development.
@akshaykadre gst has made history in India and is accepted very well in India and the first moth collection was more than $5 billion. There have been lot of resistance but finally the GST has marched ahead and is being accepted as the mechanism of indirect taxes, though these rates and slabs at which government is penalising is much higher than global peers i guess its technologically quite advanced. Keep posting about GST and other tax matters. Its interesting to see you promoting india
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