GST: One Nation One Tax

[hit&run]

Government To Roll Out The Biggest Tax Reform At Midnight

NEW DELHI: Goods and Services Tax (GST), India's biggest tax reform, will be launched at midnight by Prime Minister Narendra Modi at Parliament's historic Central Hall, in the presence of President Pranab Mukherjee. It is the fourth time since Independence that an event will be held there at midnight. The last three celebrated India's Independence and that is among the reasons that the Congress has listed for boycotting the GST launch tonight. Several other opposition parties too are staying away. GST, which replaces a slew of indirect taxes with a unified tax, is set to dramatically reshape the country's 2 trillion dollar economy.

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GST, SGST and then 2-3 types of Tax percentages. How this is going to be a One Tax One Nation ?

Please someone explain this and how Government is justified with this approach. Like in NZ, my thinking was that it will be just one universal percentage.

 

[hit&run]

Ignore his last line. But five types of Tax tariffs ???

 

[sthf]

@hit&run +1


Now wait for hit piece after hit piece about how Indian economy is completely destroyed. NDTV will go to a remote village in Chattisgarh with 4 mud huts and blame RSS/Modi and GST for their poverty.

 

[singhboy98]

Government To Roll Out The Biggest Tax Reform At Midnight

NEW DELHI: Goods and Services Tax (GST), India's biggest tax reform, will be launched at midnight by Prime Minister Narendra Modi at Parliament's historic Central Hall, in the presence of President Pranab Mukherjee. It is the fourth time since Independence that an event will be held there at midnight. The last three celebrated India's Independence and that is among the reasons that the Congress has listed for boycotting the GST launch tonight. Several other opposition parties too are staying away. GST, which replaces a slew of indirect taxes with a unified tax, is set to dramatically reshape the country's 2 trillion dollar economy.

....................

GST, SGST and then 2-3 types of Tax percentages. How this is going to be a One Tax One Nation ?

Please someone explain this and how Government is justified with this approach. Like in NZ, my thinking was that it will be just one universal percentage.

Forgive me but do you seriously think that a universal tax percentage is feasible in a country like India were the challenges faced, change every 2 km down the road ?

 

[hit&run]

Forgive me but do you seriously think that a universal tax percentage is feasible in a country like India were the challenges faced, change every 2 km down the road ?

Sure, I am all eyes to understand the constraints. Is it logistics, federalism, or usual excuse poverty.

The more I am reading the items with different Tax rates more I am becoming disappointed. I see no logic in most of the items being put on different rate.

Only thing I like is 0% on raw food commodities that will help the poor. But Congress-I's food security bill covered the few items at minimal price and few in my understanding were already 0%. The same bill could have been expanded and implemented better.

The bill is like rob Peter to pay Paul.

A Panchayati rounding up the Taxation. Nothing bold.

Ideally it should have been one tax. And to protect the poor doll the money directly to their accounts.

 

[hit&run]

Rasgulla 5%, Chocolate Barfi 12% . What kind of brainstorming is this.

Loophole for Shopkeeper to cheat government.

 

[Ancient Indian]

Check this pdf. . . . . . . . . . . . .

 

[Suryavanshi]

I hope Laptop price don't increase because of this, have to buy one this year.

 

[F-14B]

all ready the political skullduggery and bango drama have started the United soviet socialist republic of Kerala has declared that this is not such a big issue but the Infra on the state level is zilch not even the state GST bill has been passed so the supreme soviet has taken the route of an ordince
in J and K wallh hi why the hell did they say one India we will die to not implement it
the biggest of all is west bangalistan were Mamta Bint Secularism bannerji has gone Cuckoo and lost her bearing

if this same "cumbersome system " was introduced by the National Congregation Of Baboons then the MSM would wet their panties with anticipation
no system is perfect at the start where in the fuck was the shore when the VAT was introduced by the UPA yes the BJP cried horse but the MSM did not do scat

 

[Akshay Fenix]

Ignore his last line. But five types of Tax tariffs ???

Sir ji, You woke up now? This has been in the news for 3 years now.

Uptill now haven't heard of 43% tax, there are only 4 slabs 5 ,12 ,18 and 28 percent.

Here are all the items with their respective tax rate.

http://www.hindustantimes.com/interactives/gst-rate-complete-list/

Beautifully made webpage.

 

[Hiranyaksha]

Though I am not sure about current tax structure under GST, but idea of one tax is really welcoming because of huge logistics nightmare it tries to address and solve bringing much value to system. It will take much more time,atleast for me, to understand the structure as such.

 

[ezsasa]

Ignore his last line. But five types of Tax tariffs ???

This is how new bill GST bill will look like. Advantage is price of individual products will be more or less same across the country, earlier prices differed across the country depending on the state taxes.

earlier tax would be at invoice level, now at item level.

 

[IndiaRising]

modi is brave to take this historic decision. initial few years of GST will see a rise in inflation, so lets see how it impacts 2019. I'm guessing he has something big vis-a-vis pak planned to offset the domestic consequences of implementing GST

 

[ezsasa]

modi is brave to take this historic decision. initial few years of GST will see a rise in inflation, so lets see how it impacts 2019. I'm guessing he has something big vis-a-vis pak planned to offset the domestic consequences of implementing GST

whatever may be the case inflation will not go beyond 4-6%, because that is being governed by RBI in modi Govt.
so no worries there...

 

[Suryavanshi]

Next is reform in land acquisition policy.

 

[IndiaRising]

whatever may be the case inflation will not go beyond 4-6%, because that is being governed by RBI in modi Govt.
so no worries there...

im not an expert on this stuff but there was article by R Jaggi explaining why this is a truly bold move because the decision can go southwards if not handled delicately. ill post it when i find it

 

[Hiranyaksha]

This is how new bill GST bill will look like. Advantage is price of individual products will be more or less same across the country, earlier prices differed across the country depending on the state taxes.

earlier tax would be at invoice level, now at item level.
View attachment 17152

But isn't govt trying to do away with MRP and introduce shelf price concept in India. Which will in turn vary the prices of goods from region to region ? so the rational that price of individual products will be more or less same across the country will not be applicable in long turn .

 

[ezsasa]

But isn't govt trying to do away with MRP and introduce shelf price concept in India. Which will in turn vary the prices of goods from region to region ? so the rational that price of individual products will be more or less same across the country will not be applicable in long turn .

Haven't heard about doing away with MRP.

 

[Hiranyaksha]

Haven't heard about doing away with MRP.

http://www.indiatimes.com/news/indi...ear-the-mrp-stamps-in-near-future-273857.html

Here is the link .

 

[Trinetra]

Next is reform in land acquisition policy.

I am waiting for 2 most important reform in this country..

1. Uniform Civil code
2. Removal of article 370

rest of the thing can come at any time. but the above 2 must for India to become a superpower..