One year of GST : what I found , I did not get it...

in #economy6 years ago

GST started on July 1, 2007. Starts with blueprint. Just do a tax on selling and using the products. Apparently, the goal of bringing GST was to do a lot of tax - instead of CST, VAT, Service Tax etc., which would establish a uniform tax system across the country. A year of tax administration was completed. The central government of the GS is a big financial reform that is said to be hacking, to the common people, to stop the thorn in the tax system - can not swallow, can not swallow, or in Ugara. Some things and services have decreased, but prices have increased in most cases. Extra money is going out of the pocket, but his greatest benefit is not being seen by the people.IMG_20180705_212900.jpg

However, after coming to GST, there was no major impact on inflation. The government is saying this. The price of many products or services has increased relative to the customers. For example, before cutting the movie ticket using the internet, the website will have to pay 14% of the service tax on booking charges, 0.5% transparent India Cess and 0.5% of the agricultural welfare income. That is, a total of 15 percent. Now he has to give 18 percent GST in place.

In the case of taxis using Uber or Ola, there is a new tax. Customers have to pay GSP at their rate of 5 percent. Before that 6 percent of the cost. Some organizations have to pay 5 percent GS on 'Ride Fees' and 18 percent GST on 'Convenience Fees'. 6% tax is required on 'ride fees'. But the tax on 'convenience fees' was 15 percent.
If you take services from a bank or from a financial institution, there will be GST. The government has to pay more than 15 per cent service tax, resulting in 18 percent GST in one jump. Credit card in this list is read. Earlier, if the credit card statement came in 15 percent rate of tax of 502 rupees, now it comes 602 rupees. Because 18 percent GST The cost of ATM usage increased in the same way. Increased loan processing charges.
For the sake of argument some would say that not a lot of money raised. Before taking checkbook or demand draft, it would cost Tk 100 and tax was Tk 15. Today, all of the cost is 100 + 18 = 118 rupees. Only three taka is to be paid. But if thousand or lacs or million people give a little more money, its influence is very large. Life insurance premium increases GST of the mutual fund's expense ratio and exit load.
There is some exemption in the fast moving consumer goods or FMG. 5 percent GST on flour, edible oil, grains, milk, etc. Drugs, fruit juices, pencils, ballpoint pens, and the GSR rate is 12 percent. Head Oil, Soap, Toothpaste, Kajal etc. have been classified as 18% tax class. Scandal occurs when the government puts shampoo, deodorant, detergent, cosmetic products and chocolate in the 28 percent GST tax class. However, the government reduced the tax on 175 products by 18 percent to 28 percent in 15 November, 2017. The cost of eating at the restaurant has been reduced, because GST has been reduced from 18 percent to 5 percent.

It was said that the GST or the house prices will be reduced. There was nothing like that. If the new home (which was not created) in GST, the total tax and various charges (stamp duty and regulation) are calculated by paying 16.5 percent to 21.1 percent. Of course, the price depends on the purchase of a new house in any state. Now the GST is 12 percent, 4-8 percent of the stamp duty (6 percent -7 percent in Kolkata) and the registration charge 0.5 percent -1.1 percent. Prior to July 1, 2017, the maximum 18-19 percent (in case of litigants) is to be paid in this sector. Because service tax was 4.5 percent earlier and value added tax (VAT) was 0-5 percent, 4-8 percent stamp duty and registration charge 0.5-1.1 percent.
To benefit the common people, gasoline and diesel should also be brought under GST. Now 60 percent tax on oil prices The price of oil may be expected to decrease if GSAT is under.
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After one year, the effect of GST implementation has started to take effect. But many people think that this tax system is now at a transitional level. But the last thing is that there was a lot of expectations about commodity prices in GS surroundings. There is a great difference between the expectations and the reality.
Thanks reader for read it, and now the big question is GST is really worthy decision for Indian government??
What is your opinion??
Please give your valuable statement in the comment box below.

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Nice job sir.you are given information about GST.it is very useful my friend.

Thanks .Keep supporting me for other new upcoming posts..

@bijoyempiree i think that crude oil should be consider under GST. Whats your point of view on this let me know ?
Thank you

Everything now under GST. It's change our economy of india..

It should change . And we are proud of our country

Nice post about GST