The biggest benefit of GST is that the lakhs of business people who are evading excise, vat, octroi and other taxes will now be forced to pay taxes. Evasion will no longer be possible because everyone will only work with suppliers who provide them a tax certificate which they can use to reduce their own taxes.
It seems GST will make life of common man even more difficult.Who buys a car frequently?who buys a house frequently,who buys furniture frequently? But people do travel frequently, people communicate on daily basis and we do love to eat out sometimes. So, the most common things and services which a middle class require on a daily basis or frequently are going to be costly.
Re: GST
by bakchod on Aug 06, 2016 07:54 PM
The article is poorly written. All household grocery items will become 10% or more cheaper including - toothpaste, soaps, shampoo, clothes detergents, toothbrushes, aftershave, shaving cream, razor-blades, shoes, socks, clothes, books, pens, pencils, paper, tv, washing machine, fridge, pillows, bedcovers, cushions, hairdryer, biscuits, tea leaves, coffee powder, noodles, bread, etc.
Secondly due to reduction of price of all manufactured goods, imported items will no longer be cheaper and domestic manufacturing will increase giving jobs to people. Currently imported items only pay a smaller customs duty while domestically manufactured goods have to pay excise, vat, sales tax, octroi and dozen other taxes.
Re: GST
by Ramana murthy on Aug 06, 2016 10:09 AM
dont worry! traders will compete well and with proper distribution the average price of the products will come down or will be stabilised. a perfect market situation will be created.
Re: Re: GST
by suresh kumar on Aug 15, 2016 09:30 AM
traders will compete?? see the case of cement. Aditya Birla group took over all major cement brands,and became the price leaders. see the price levels..
In our country when prices go up they never come down...Will GST help to alleviate suffering of middle class an poor by decreasing price of rice, dhall's etc.
Re: Re: GST
by bakchod on Aug 06, 2016 07:56 PM
The article is poorly written. All household grocery items will become 10% or more cheaper including - toothpaste, soaps, shampoo, clothes detergents, toothbrushes, aftershave, shaving cream, razor-blades, shoes, socks, clothes, books, pens, pencils, paper, tv, washing machine, fridge, pillows, bedcovers, cushions, hairdryer, biscuits, tea leaves, coffee powder, noodles, bread, etc.
Secondly due to reduction of price of all manufactured goods, imported items will no longer be cheaper and domestic manufacturing will increase giving jobs to people. Currently imported items only pay a smaller customs duty while domestically manufactured goods have to pay excise, vat, sales tax, octroi and dozen other taxes.
Re: Re: Re: GST
by suresh kumar on Aug 15, 2016 09:38 AM
what are these 'few services'? is it not the daily affairs of common man? Banking, travel, communication? is it not a trick to benefit traders?
By GST ,medicines,Foods Clothings and all Services will cost more, will be a Burden on Common Man and small and medium shopkeepers ,Traders and manufaturer in short it will not be good for majority of the People of India . You cant Tax luxyries and necessaties at Same rate.
First of all want to know why petrolium products out of GST. Because you can not increase of decrease the price often. That's why. Secondly there should not be any tax for food items. Without can any body survive. Buying a car or gold or cigrette will your stomach will get filled.It is shame to tell that with GST affected food items. Narayanan.
The unification of taxes across the country is a big eyewash because consumption items used by the common man will go up. Today the contribution of Service Tax to GDP is 61%. Last year it was 52%; it is assumed by end of this year, service tax\'s constribution might be close to 70%. And this main revenue earner will be increased at least by 3 to 4% across all states. This is crony capitalism which reduces cost of Car but increases cost of medicines, dining out, travel, mobile bills etc. The reduced cost of cement is not going to impact the common man because cost of apartment will be higher due to increase in service tax. People want a beverage or soft drink to quench thirst, not a can of Paint whose price might be bit lower. The poor people and the lower middle class will bear the brunt of this new weapon called GST.