Will Indian economy grow faster with reduced Goods and Services Tax (GST)?

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Deeksha said: (Sep 24, 2019)  
Yes, as we all know the automobile sector crisis. This sector gives employment to 3 crore people in our country from which 3 lakh jobs are already gone with a prediction of almost 20 lakh more and one thing that they are constantly asking for is a reduction in GST.

Second is Parle G due to increased GST and less money in the hands of people they have also started cutting jobs.

As our economy is already not performing well currently. It is very important that we reduce GST in not all but maybe some sectors. It will definitely give some much-needed boost to the economy.

Rate this: +12 -4

Patel said: (Jun 30, 2019)  
According to my view, Yes, GST will certainly give a boost to the Indian economy because it is going to make things simpler and it is going to add a large number of efficiently in business.

At the broad level if today you think of movement of goods from the place where the goods are manufactured to the goods are consumed now the goods are moving from northern part of the country to the southern part it takes around 22 days by truck if we abolish the central sales tax and entry and check post in various states it will only take 11 days so you can see how people will benefit in terms of logistic cost.

Rate this: +20 -9

Ankush said: (Jun 18, 2019)  
Hello Everyone.

According to me, the GST in beneficial and good initiative for the country.

1) I agree that the poor people suffer a lot due to this, let me tell you one thing the design of GST is such that the taxation on daily product like wheat, rice is less as compared to other products so the point is poor people's first requirement is food and daily products and the GST rates are low on these products.

2) To get services from the government, governments need an avenue to do so GST that we pay is after-all for Country's development and for looking after the Crysis.

3) Before GST the taxation design was somewhat complex and was not easy to understand.

Before GST even I don't understand how much is a tax on this product or if I import this product then how much the tax will be, after GST everything looks refreshed and sorted.

Rate this: +7 -11

Sravani said: (Jun 16, 2019)  
In my point view, it will better to reduce GST because with increasing of this GST, rich people is not suffering. Many poor and middle class families were suffering every item they have to pay with that GST amount.

And what the government done with that amount they construct a statue and they said that is the symbol of unity. I think that is not a fair. Instead of that the government can do many good things but never done. Like use for poor people food and students education.

So, what is the use of this GST. And day by day GST increasing. And if reduced GST many companies interested to develop some more industrials and IIT companies also for that unemployment will decrease in ou India.

Rate this: +13 -9

Mounika said: (Mar 13, 2019)  
Yes, in my opinion, the reduced rates of goods and service tax will lead to economic growth in India, as because New companies will show interest in investing such less taxed goods and more demand goods in the market so that their payback period will less than investing in any other company, through which the Indian economy grows fast.

Rate this: +19 -3

Sumanta Bhue said: (Feb 13, 2019)  
In my opinion, GST in India beneficial to the public as well as India government and boost the competitive economy of the country by the following ways:

1. Creation of unified national market.
2. Higher threshold for registration.
3. Composition scheme for Small Businesses.
4. Simple and easy online payment system.
5. Elimination of multiple taxes & double Taxation.
6. Boosts to make in India initiatives.
7. Increase in government revenue.

Rate this: +12 -11

Abhishek said: (Feb 1, 2019)  
Yes, GST start to reduce many more taxes in India and helpful for customers because in past day many people not giving taxes and doing fraud from government but now GST directly go to the government Account. And, also growing economy of India. GST has pushed the economy one step closer to a common market.

Rate this: +19 -4

Rahul Poonia said: (Dec 27, 2018)  
According to my opinion, as govt put some goods and services in low brackets of GST, it is good for a common man as well as it will also boost the economy, bcos after it many needy goods and services become more affordable. As a result of this, the demand will increase as well as the production will also increase and it will help to boost the economy.

Rate this: +16 -5

Vivek Chaudhary said: (Oct 18, 2018)  
Hello friends.

I am Vivek Chaudhary.

Friends in my opinion due to good and service taxes many people change their mind to buy something due to which the production of that thing slow down. Therefore the economy slows down and it hinders the development of the country.

Therefore according to me, the lesser the GST more will be Production and hence the economy will increase much faster.

Rate this: +14 -27

Payal said: (Sep 2, 2018)  
Yes, definitely. Reduction in GST on various goods and services will reduce the cost thus making the product affordable. These will lead to an increase in demand thus increasing production which in turn will make the economy grow faster. In november, government moved 270 or 280 items from the slab of 28% to 18%. These were mainly fmcg goods. After this step, fmcg sector in the country got a boost. Also, services availed in restaurants were charged 18% gst which was then reduced to 5%. This increased the number of people visiting restaurants.

Rate this: +80 -10

Shubham Sahu said: (Sep 2, 2018)  
Gst in India is a great tax reform. I think we the people of India, think about one tax one nation after that come. After adding GST reform our indirect tax collection is much greater and direct tax means return file filling is also twice. If the rate of GST is reduced then for some time our economy is in a bad way. But after coming out this crucial ara it becomes a big Economy and growth rate is in double digits.

Rate this: +9 -6

Sandeep Chauhan said: (Aug 27, 2018)  
Indian economy will be benefited by GST because of the following reasons :

1 Complete transparency in the system.
2 Totally online system. From which it is easier to track the transactions.
3 it curbs the black marketing of goods due to which tax money gets to government rather than Corrupt people.
4 purchasing power of money increases due to which economy will be benefitted.

Rate this: +27 -9

Ankit Sagar said: (Aug 26, 2018)  
The Growth of economy is indicated with the parameters like GDP, GNP, IIP. If we see in a broader term, reduction of taxes always gives a boost to a small-scale industry which further will give hopes to ill employed people to participate in the production of goods and all these leads to increase in GDP and hence economic growth.

Rate this: +9 -6

Shreya said: (Aug 18, 2018)  
According to me, the Indian economy grows faster because it gives transparency in the system. As the customer will know how much tax they are being to be changed. And by paying one tax it will reduce prize. Of the product. In long run definitely, it is beneficial.

Rate this: +7 -9

Vishal said: (Aug 16, 2018)  
Yeah, Indian economy definitely gets affected by GST as its aim to development society in this modern era to achieve that government needs public finance so GST started GST on rail and construction sector helps in increasing the economy, it was earlier decided to include rail sector in get to widen tax gains, increase tax so as to keep overall GST rate low which helps in tracking of interstate transportation of goods through the IT network, GST increases the garment industry by $25million as retail sales in 2008 which also results in increasing economy.

So, I think in some coming years India will increase economy and can compete with largest economy countries like China, Japan etc.

Rate this: +6 -14

Muskan said: (Aug 12, 2018)  
I think there is nothing like one nation one tax because as we see deeply, there are two taxes cgst and sgst. So I think its the sane tax but with diff names and also because of this our gdp has increased and it has done nothing good to our society.

Rate this: +5 -13

Manish Sharm said: (Aug 9, 2018)  
A product buying by the customer had to pay so many taxes that increases the product price. After the implementation of GST one tax is applicable and that tax directly goes to the Indian government's account. So India and Indian economy will grow.

Rate this: +14 -3

Raj said: (Jul 31, 2018)  
GST in India was introduced in 2006 and then finally was implemented in July 2017. All the taxes were subsumed under Gst and it was taken up as a measure to ease the tax structure in India.

GST has brought many changes in the economy, but it has slowly increased the economic growth and it will take time to bring economic growth on track with GST.

Rate this: +27 -5

Will Indian economy grow faster with reduced Goods and Services Tax (GST)?

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