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  • Category: Miscellaneous

    President approves GST bill.

    I have never observed till now any central bill being ratified by states in such a speedy way and sent for approval of by President. That just shows that when there is will there is way.

    Almost all parties and almost all states agreed or compromised and passed the bill in respective forums- Parliament or state Assemblies. The irony is that GST bill is not a welfare measure to benefit poor people or vulnerable sections so that haste and speed can be justified. GST is going to help the government (may be) earn a little more revenue and many big corporate and multinationals going to get some concessions or reduced tax spending and more relief. The ordinary people, on the other hand will be suffering by paying more by way of enhanced tax rates on essentials till now taxed in lesser rates.
    We already had a GD on GST in ISC forum. God and government only knows what shock we are going to get. Definitely some section(other than ordinary people) ar going to have their 'ache din' to start soon.
  • #578150
    Yes the way the states are convening special assembly session and passing the approval for GST bill acceptance shows that there is something cooking. It is good that uniform tax across the country would be liked for the development of every state. For example those people who are living in Cuddalore which is part of TN never have the petrol on their vehicle, and instead they travel to 18 kms , where in Pondichery limit starts and pour the petrol at the petrol stations there as the tax on petrol is less. So what I am trying to say that if the tax on every product is same across the country, the people need not run around to fetch the same citing cheap availability some where. And the main advantage of the this GST would be total control of state revenue would be under the scanner and observance of center and states will get the share from the tax pool based on the population of every state. There seems to be logic in this.
    K Mohan
    I consider myself as the learner everyday

  • #578153
    I would beg to disagree on two counts. GST bill has not been passed in a hurry. It had been pending at different stage for last ten years. It is being cleared due to constant and continuous effort of the present Union Government. Secondly, uniform tax rate would definitely benefit the business,but the accrued benefit would percolate down to the lower strata of the society. It is the basic law of economics.
    “Whenever I feel the need to exercise, I lie down until it goes away.” - Paul Terry

  • #578190
    I would advise the thread author first read the GST act properly and remove his misconception that govt.and multinational company is going to benefit and general people is not going to get acche din. Most of the state govt is going to loose its revenue and central govt. is going to pay them compensation for next 3 years.Now consumer is paying average 30-35 % tax after GST it will be 18-20. If you want to purchase a car it will be 15% cheaper and India's GDP will jump from 7.6 to 10 and above.I think you will be aware what will be the impact on indian economy once it touches 10%.
    'Education is a lifelong process, keep on learning new things'

  • #578198
    N K Sharma,@#578190, you and I are equally on the same footing about what will happen. We say our opinion based on certain assumptions and reading between the lines of what is now available or from what we deduct from what is happening.

    My view is based on the fact that there are items which are taxed now in single digits, and most of the are daily essentials . Now, after GST they also will be taxed equal with luxury Motor car or luxury perfume or some other luxury goods. So the tax for luxury and non-essential( or non-priority items) get reduced at the expense and increase of common man's additional tax burden.

    I would be the happiest if tax for my daily food items and other very essentials get reduced after GST. For that we have to wait a little more. My assumption is that initially things will appear hunky-dori. Then we will see the real picture.

    About the ache din, I based on what was the Janata trains in the early Janat/NDA rule and what is the dynamic pricing, surge pricing, premium suvidha and premium Tatkal trains by the present government. Tax the common man Pauland pay the rich Peters seems to be the motto of the present central government. GST is one more achievement for them in this regard. Modi is more worried about NRI s and multinationals than the common domestic, resident,Indian.

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    Let us keep faith on ourselves and work sincerely, not leave everything to fate.

  • #578211
    After being assented by the President, the GST Bill has now become the Constitution (101st Amendment) Act, 2016. A GST Council will now be set up within 60 days which will comprise of the Union Finance Minister as the Chairman, MOS–Revenue/ Finance and State Finance Ministers as the members. The GST Council will make important recommendations on important issues like GST rates, the common list of exempted goods and services, dual control & adjudication, subsumation of surcharge and cesses etc.

    Simultaneously work on a war footing is going on regarding drafting of the GST (CGST) and Integrated GST (IGST) which will have to be passed by Parliament. Similarly, all the states will have to draft GST (SGST) to be passed by the State Legislatures.

    In my opinion, it is being unrealistic to expect that the prices of goods will come down after implementation of the GST Act. At the most, there will be some cosmetic changes in certain goods which are not essential items.

    The vegetables which pinches the common man most is likely to remain uneffected by the GST law.

    Let us encourage each other in sharing knowledge.

  • #578284
    #578198Tthere will be a exempted items list and some essential items will not be affected.There is resistance to change. NDA Govt. is doing good job and the real affect will be seen after 2-3 years. You are talking about railway,can you tell what was the condition of railway,power plants and defence when Modi govt took over. You will be shocked to know that almost all the power plants stopped the power generation and not having one week coal as a fuel. In Defence there was no gola barood and acute shortage ships,aircrafts and other war related materials.If UPA has ruled for 6 months more than the realty of nation's economic and development story had been better understood.
    'Education is a lifelong process, keep on learning new things'

  • #578287
    When the present Govt. took over in May, 2014, they noted a complete policy paralysis in every sector. The maximum sufferer was the Defence sector. During last five year of UPA Govt., no new purchase was made because the then Defence Minister tried to avoid all controversy. As a result, country's defence preparedness suffered a lot. In other sector, the paralysis continued. The present Govt. has been trying to come out of the dismal situation slowly but steadily with pro-active approach in every field. The GST bill is one such example. the positive effect will be seen after it get ratified by all States.
    “Whenever I feel the need to exercise, I lie down until it goes away.” - Paul Terry

  • #578293
    Partha - The 10 years of UPA Government taught us that we are so strong that we can survive even without an active Prime Minister. Afterwards, the NDA Government emerged as just opposite of that.
    Let us encourage each other in sharing knowledge.

  • #578328
    As far as my knowledge in this regard at present goes, only liquor is not coming under the purview o GST. Even petroleum products also come.

    Please know, that, Tuvar Dal will be taxed like Gold or Gold will be less taxed like Tuvar Dal.
    In yesterday's newspaper, I read a headline" Obama Lauds Modi in getting GST bill passed'.
    Very simple to understand. Why US President should laud on a purely internal matter of India? The reason is : the real benefactors are US and other multinational business and US and other similar national interests.
    (One reference for example: economictimes.indiatimes.com/news/politics-and-nation/barack-obama-praises-pm-modi-for-bold-policy-on-tax-reform/articleshow/54006342.cms)

    Another proof: "President Barack Obama lauded PM Modi at his efforts at police reforms especially in India's recently passed GST bill. However "-India Today.

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    Let us keep faith on ourselves and work sincerely, not leave everything to fate.


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