Reduce GST on following:
India collects record 2.10 trillion rupees as goods and services tax in April
India collected a record 2.10 trillion rupees ($25.15 billion) as gross goods and services tax (GST) in April, a rise of 12.4 per cent from the same period last year, the government said in a statement on Wednesday. The government had collected 1.87 trillion rupees as GST in the same period...www.wionews.com
Surely now is the time for GST to be slashed? It is absurd that things like ACs are classified as Luxury items and taxed at 28% GST. ACs should be a human right in India's weather. Slashing GST on such items will also help our manufacturers. This year we will produce some 11-13 million ACs and sales should also be in that range. The target should be at least 30 million in the next few years.
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Absolute pea brain decision to club consumer durables as luxury. Typical poverty mindset of indian babus. The aim for the next decade is to make every consumer good as cheap as possible to boost penetration of these items to >80%.
And how will GoI get its revenues considering that only 0.3% of India pay income taxes?
Huawei killed Samsung in this way, Apple is next after the Huawei ban in US and promotion of "buy Chinese phones" programs and farmans by CCP, earlier Apple used to survive because Chinkus wanted to show off their high status by buying Apple.
infront of non-whites like Elon, Tim Apple and those Volkswagen Germans do on the regular in China
India collects record 2.10 trillion rupees as goods and services tax in April
India collected a record 2.10 trillion rupees ($25.15 billion) as gross goods and services tax (GST) in April, a rise of 12.4 per cent from the same period last year, the government said in a statement on Wednesday. The government had collected 1.87 trillion rupees as GST in the same period...www.wionews.com
Surely now is the time for GST to be slashed? It is absurd that things like ACs are classified as Luxury items and taxed at 28% GST. ACs should be a human right in India's weather. Slashing GST on such items will also help our manufacturers. This year we will produce some 11-13 million ACs and sales should also be in that range. The target should be at least 30 million in the next few years.
View attachment 251040
Absolute pea brain decision to club consumer durables as luxury. Typical poverty mindset of indian babus. The aim for the next decade is to make every consumer good as cheap as possible to boost penetration of these items to >80%.
They have to meet Gobi ji's (((collection))) targets, those welfare schemes won't fund themselves you know.
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2.5-5% GST uniformly on everything. 10% on luxury items like jewellery wagera.
Bangladesh earns record US $ 47.38 billion from apparel export in 2023 - India Shipping News
DHAKA : Bangladesh’s apparel exports achieved a remarkable milestone in the previous year, reaching an unprecedented high of nearly US $ 47 billion,indiashippingnews.com
Apparel exports to EU jump 8.5% in Feb
Bangladesh's apparel exports to the European Union market surged by 8.5% month-on-month to around €1.3 billion in February this year – the highest in the last four months. However, shipments to the 27-nation economic bloc remained 18.6% lower compared to the corresponding month a year ago...www.tbsnews.net
At $14.5 billion, India’s garment exports lag; trail behind China, EU, Bangladesh and Vietnam: GTRI report
India’s textiles and garments exports have declined over the last five years by 7.6 per cent to $34.24 billion in calendar year 2023 from $37.16 billion in 2018,www.thehindubusinessline.com
This has been the single biggest failure of Modi government. They have completely neglected this sector thanks to incompetent scum ministers like Piyush Goyal. Our garment exports have stagnated around $10-12 billion in the last decade while they have crossed 50 billion. Even $1 billion of additional exports will easily sustain 1 lakh direct employment. To make things worse, most indian middle class are exclusively or increasingly shopping at Zara, Uniqlo, Reliance etc, who source substantial amount of their clothes from bangladesh and import it here, which is why our textile imports are increasing.
Polyester yarn prices down in India amid weak demand, liquidity crunch
PC and polyester yarn prices in Indian markets have dropped due to sluggish payments and weak fabric purchases by the garment industry. Viscose yarn remains stable but faces slow demand. The Suratwww.fibre2fashion.com
And looking at yarn demand prices, looks like things will get even worse.
We had a case study of GM failure in India. They changed too many CEO and bough their European cars to India without customization. The most beautiful definition of Quality I ever cam across was " Quality is conformance to requirement ".
GM kind of failed all around the world except their main US market - Russia, Brazil, Australia and India.
Bhai I was joking about doing away with GST.
They should work upon a tax regime that can spur consumption growth while simultaneously increasing GST revenue growth. There won't be any ideal rate but they should look for the sweet spot.
Reducing number of slabs won't work (look up Ajay Rotti for more inaights); the esteemed columnists and critics of the GST regime just don't get it. The tax structure has issues beyond that.
He is a clown. Ignore.
