Is GST really a One nation, One tax system?

Hii friends,

The topic given to us for discussion is "Is GST really a one nation ;one tax system ?".

Surely, GST (goods and services tax) is really one nation one tax system. Before the implementation of GST there was a lot of indirect taxes like service tax, excise tax, vat etc but now only one tax in direct way i.e. GST & their tagline is used one nation one tax.

In GST each and every goods and services are distributed in the class accordingly now people can know how much they are paying on it. Five slots are made 0%, 5%, 12%, 18% & 28%. The Basic and very needy things in 0% slots and this is great helpful for the general people. 5% is on branded packets of foods etc, 12% on sports, milk etc, 18% on computer, mobile etc, 28% on luxury hotel, entertainment things etc.

After implementation of GST the number of tax payers people have increased and the difficulty in tax collection has easily solved and of course, this is directly in favour of both government as well as people.

Due to flexible and perfectness, most of the developed country are applying so, absolutely this will be in favourable of growth of economy of India.

Now foreign industry will be attracted to establish their company in India without hesitation because they are familior this type of tax system.

Good morning to all of you.

Today our gd topic is GST. So I express my views on it.

GST means one nation one tax. GST is an indirect tax which has replaced many indirect tax in India. Gst is mainly technologically driven the minimum tax rate under gst is 0%and highest tax rate is 28%. Goods and services are taxed at the following rates 0% 5% 12% 18% 28%.

GST is texted on all transactions such as sale transfer purchase.

GST is based on input tex method the journey of gst began from the year 2000 when a committee was setup to draft the law it took seventeen years from then in 2017 the gst bill was passed in the parliament. On first July the gst law came into force.

Benifit of GST.

GST is right step to move forward with the Make in India vision.

GST gets rid of multiple taxation system in the country.

GST registered business will be able to claim tax credit to the value of GST.

The tax structure is much simpler and easier to understand.

Reducing production costs will make exports more competitive.

GST eliminates complexities in the present taxation structure.

Key points if change in GST.

Small treders and exports were hurt most by the application of gst. It was crucial to Prime minister Narendra Modi's plans to create million of more jobs. Accordingly the decision were taken with a view to raise revenue.

That's all about my perspective.

Thanks.

Hi. Friends,

First of all, thanks for giving me this opportunity. Today we discuss the GST really one nation, one tax system.

GST means goods and service tax which is implemented by the government. GST first introduced in Europe in France. But in India, it introduced on 1st July 2017.

Gst is implemented by the government before GST there were lots of taxes giving by the government like service tax, entertainment tax, exercise tax, central tax etc. But after 1st July 2017, there is only one tax implemented by the government which is GST before GST we don't know how much we pay the taxes of the product we bought. But after GST we all know how much we paid the tax on the product which we bought. Because in GST there is only 5 types of tax implemented by the government which is0% 5%, 12%, 18%, 28%. In 5%, packed food items, in 12% oil, coconut oil etc, in 18% Mobile phones, electricity bill etc and in 28% include a washing machine, refrigerator etc.

Gst is not included in petroleum and alcohol but this is not the good government should do tax on this product because under this GST no one takes higher charge.

According to me, it is a good initiative taken by our government because it improves our old tax system which is very hard like we have to pay any taxes on the products like vat tax excise tax entertainment tax ETC. But now we have to pay only two types of tax one is c-gst and other is s-GST. And there is a fixed value of these taxes. So it is a very simple tax system. It attracts many foreign companies due to this simple tax system so it improves also our economy. Before this system, we don't know how much tax we are paying on the product but we know it clearly. And this is in practice not only in India but also in many countries. So I would like to conclude that it is a good step taken by our country.

As far as, from the point of view of business, they don't appreciate this move of GST by Modi govt because they have to pay tax on a monthly basis if their turnover is more than 2000000 so what they do, they do their business or pay the tax all time.

In my point of view, GST system is good for our country. We daily hear in news about corruption. It's not good for our country. Every state has own different -2 type taxes impose. Our current govt take initiative for one country, one Tax. It's take good decision by our Prime Minister. GST result we can see after from one to two years. It would be given fruitful result for India. And our India will be reached on top 10 development countries.

Hello.

Yes, I agree with the statement that GST is working as a one nation tax system. This term has huge propaganda, rules, regulations and procedures to be followed but India like the country is not easy to implement in one take with full fledge new tax system. Since from 1st July 2017 the tax committees are trying to impose but after every 2 month approx they have to amend the system of filling or criteria or the product slab rates because they have imposed the tax system but the condition of developing country always changes then there should be different condition of filling or imposing tax to the products. Overall it's working gradually, slowly answer a good step to be in one tax reforms it will be simpler to understand and imposed.

Hello, every one.

According to my view, Gst has implemented all the supply of goods and service excluding alcoholic liqueur for human consumption.

It is imposed on all states without Jammu and Kashmir.

Before the introduction of Gst, in India there are so many taxes like service tax, entertainment tax, vat, toll tax etc were levied on goods. These taxes were different in different states, but after the introduction of Gst, there is only one tax into India. Gst rates 0%, 5%, 12%, 18%, 28%. So the GST is really one nation and one tax.

Thank you.

According to my point of view, GST is indirect tax or consumption tax which is levied in India to make a single market. Gst is divided into two parts first one is cgst and sgst. As we know India having a very large population so GST works in two-level central and state level for a better environment.

In my point of view, it is one of the many good initiatives taken by PM Modi. It enables us to understand the tax system of India in a more comprehensive way. As you see every day many people caught by CBI raids when compared to the pre-Modi era. I believe these are happening because of GST.