- 1 year, 1 month ago GauravParticipant
The GST has been set up to convert all existing state and central indirect taxes into one line. Two GSDs will be charged. A federal GTD and other GST states. Therefore, if the GST ratio is 18%, the 9% will be GD and other half state GST.
Inflation is expected to have a slight impact. The prices of most ‘goods’ are less than today. As for the services, the cost will be higher. But everything will be very low.
Currently the states collect VAT, sales tax, luxury tax, entertainment tax and many taxes. All of those lines are taken under the GTD section and replaced by a line. It seeks to all the states in any state to buy any trader in any trade, buy goods, sell it wherever and pay the same cost and make the entire country dramatic.
Wine for personal consumption is not included under the GST regime. Drinking alcohol can still lead to today.
It not only boosts the business but also benefits the consumers who see the prices of the goods coming (as expected, but some prices may be responsible for the states). Indian industries can be used for their benefit by increasing global goods and services globally.
GTT investors will carry tax laws in their minds and allow the system to make it more open and easier to work.
It’s hard to hide something or help any corrupt practices. Therefore, if there is a disregard of a collection of taxpayers or cannot find any of the reasons, there is a possibility of losing other power. It will be difficult for some officials to manage and alerts. The possibilities of grafting in GST are doubled.
Paper documents should be completely removed. Taxpayers file back all online GST regimes. They all get their money back, orders etc. This will reduce the interface between moderators and officials, which will reduce corruption.
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