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  • Category: Miscellaneous

    GST Implementation till now in our country.

    GST introduced in our country from 01/07/2017. GST stands for goods & service tax. The Gst is the new indirect tax replacing all local taxes like VAT Tax, Service Tax, Octroi, Central Excise, LBT,etc., The new system of taxation is functioning smoothly. In initial stage there were so many technical problems faced by the tax payers & even departmental people. Slowly it is getting its' way for smooth functioning & implementation. The collection of tax is also good under the system. The Benefit of this system will be seen in due course of time.

    There are many countries where it is going very well. Once the GST is fully understood, it will be the fine system till the day in our country then any other indirect taxes were there.

    We should support the new regime & wait for its sweet fruits to be enjoyed in future.
  • #629552
    Yes during the initial stages there were starting problems for the GST to get implemented with right earnest as there were no clear cut tax details for certain products which were not in the list. Now every product and services are in GST net and slowly all the products and services are getting into tax net. The most highlight of this new tax system is that the states are going to be benefited immensely. That means each state from where the tax comes gets 50 percent of the share immediately. So the states must ensure that every trader and businessman comes into the tax net so that the state gets the share.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #629608
    GST has made the taxing system easy. Earlier we have a State tax, central tax and then excise tax. Now all these are brought under one head and GST is introduced. So for everyone, it has become easy to maintain accounts and other details. Earlier days getting C form for the transaction was very time taking. Some customers availed this concession but will not submit c form in time making the supplier face hardships. Now with GST, these problems are out. But initially, it has taken more time to the organisations and people to understand the system. But slowly all are getting adjusted and all the transactions are getting streamlined. It is a user-friendly system and good for the business people as well as to the government also. The customers also will feel happy if Petrol/Diesel are also brought under GST which will reduce the cost of these fuels.
    always confident

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