Seems to be excellent move. Hopefully, it would reduce infrastructure cost and channelising taxes to fill govt. coffers. Mfgrs. would recover 20% tax and no tax down below will reduce without bill transactions. Less the people to be monitored better the revenue with less overheads.
Re: Proposal of 20% GST
by sudarshan seven on Jul 21, 2010 08:33 PM
but how will it help if it replaces excise,service tax or VAT? rate is also abnormally high-20%. and we are not paying all the 3 taxes for all kind of bills.
Re: It will further increase inflation
by pradip doshi on Jul 21, 2010 08:33 PM
Right now the excise is 10% cess viz. 10.3%; Salestax generally 5%. 20% would increase the cost but let's hope this reduce the overheads on recovery and revenue would be productively used and contribute to fight terrorism.
Re: Re: It will further increase inflation
by president on Jul 21, 2010 08:58 PM
congress is supporting muslims and minorities and indirectly supporting terrorism
