Goods & Services Tax (GST) Updates

Its all about punchlines!

GST reality may not be what it is seen. (as shown to be as)

People are now considering politics equivalent to movie.

There is a hero
People pay to see hero
Hero throws punch lines
People enjoy punch lines
And people enjoy "dreams" shown in movies. (even though people know that dream of the movie is not reality)

Same is happening in politics of the country.

We have a hero showing dreams and throwing punchlines.

And people believe in it while continuing to pay more and more taxes so that hero can show more dreams (vikas)
 
GST itself is made up of three different taxes. State GST, Center GST and Inter State GST.
 
Hard to decide what is correct .. implement GST or not implement GST. Best would have been a trial phase -- implement on say steel products .. see what happens .. slowly expand the net instead of going in all at once.

Senior Advocate of Madras High Court Arvind Datar explains why GST will be the most terrible thing to happen to the economy .. a small business owner who files 2 returns now will have to file 49 returns every year .. (the first 14 minutes is about GST)

Looks like we are in for a rough ride for few years.


Source


Two year old video but this guy articulates very clearly objection of small traders against GST. Hmm. GST is good but seems lot of churn is going to happen among small traders. Coming on heels of demonetisation ....


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At very least GST promises to be a bonanza for indirect tax lawyers and CAs.
 

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