Will Indian economy grow faster with reduced Goods and Services Tax (GST)?
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24 comments Page 2 of 3.
Mounika said:
6 years ago
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.
(33)
Sumanta Bhue said:
7 years ago
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.
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.
(19)
Abhishek said:
7 years ago
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.
(25)
Rahul Poonia said:
7 years ago
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.
(20)
Vivek chaudhary said:
7 years ago
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.
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.
(19)
Payal said:
7 years ago
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.
(105)
Shubham Sahu said:
7 years ago
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.
(10)
Sandeep Chauhan said:
7 years ago
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.
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.
(29)
Ankit Sagar said:
7 years ago
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.
(10)
Shreya said:
7 years ago
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.
(8)
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