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GST Important Dates

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A good chart explaining GST in a nutshell! But are we technically ready to roll out GST wef July 1?? A million dollar question...There was a suggestion, looking at the complexities to start on 1st July but levies and fines should start from 1st Jan 2018


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Source: Twitter @rvaidya2000
 
hi

GST is good for govt...if govt can give 100% return policy and nice cutomer oriented service without any corruption?....its hard...

NO SERVICE BUT SERVICE CHARGES ARE ADDED...its kind of looting common man in the name of service charges..
 
hi

GST is good for govt...if govt can give 100% return policy and nice cutomer oriented service without any corruption?....its hard...

NO SERVICE BUT SERVICE CHARGES ARE ADDED...its kind of looting common man in the name of service charges..

One good thing is that it replaces multiplicity of taxes-Sales tax, Service tax, Octroi, Central Excise, State VAT etc...This should be beneficial..One indirect fallout will be lower inflation!!
 
Who is going to be hurt by GST?

Mostly the Small medium enterprise [SME] and unorganised sector whose profit margins are low . They might find conversion to GST difficult and cumbersome.. For some

if they incur GST ,their profil margins will erode and many may have to fold up.[of course it is not an argument that non payment of govt tax is justified]. Organised

players specially the large ones with all india presence and multiple warehouses will benefit with faster movement and lower cost of transportation besides lower taxes

depending on the slab . These large ones if they are in competition with small SME , SME will get killed. SMEs are employ a lot of workers and GST will throw many

workers out of job.About 50% of GDP is from SME.GDP will be hurt also.

For the time being petrol and diesel are left out of GST. But these are treated as cash cows by the state and central govts.India has probably the highest rate of

taxation on these items.The cost of these items when petrol was 115 dollars a barrel and now at about half rate around 55 dollars are only slightly different -Rs 76 and

67 per litre . This really means that middle class and the poor are paying heavily . Since diesel prices are also similarly regulated, cost of all commodities are also

higher.

Ultimately the burden is of the small man
 
Who is going to be hurt by GST?

Mostly the Small medium enterprise [SME] and unorganised sector whose profit margins are low . They might find conversion to GST difficult and cumbersome.. For some

if they incur GST ,their profil margins will erode and many may have to fold up.[of course it is not an argument that non payment of govt tax is justified]. Organised

players specially the large ones with all india presence and multiple warehouses will benefit with faster movement and lower cost of transportation besides lower taxes

depending on the slab . These large ones if they are in competition with small SME , SME will get killed. SMEs are employ a lot of workers and GST will throw many

workers out of job.About 50% of GDP is from SME.GDP will be hurt also.

For the time being petrol and diesel are left out of GST. But these are treated as cash cows by the state and central govts.India has probably the highest rate of

taxation on these items.The cost of these items when petrol was 115 dollars a barrel and now at about half rate around 55 dollars are only slightly different -Rs 76 and

67 per litre . This really means that middle class and the poor are paying heavily . Since diesel prices are also similarly regulated, cost of all commodities are also

higher.

Ultimately the burden is of the small man


hi


in any govt policy....the middle class and poor man will suffer...
 
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