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

Reduced GST will encourage shoppers/consumers to shop in bulk because they won't have to worry about the tax rates. Back in the time of VAT, consumers didn't know about each layer of tax that was added in the whole process starting from production to sales, they were beware of it, so they didn't think much about the taxes. But today if they know the rates of GST which if high will not allow them to shop more. Reduced GST will help in increasing sales.

Hi everybody,

Greetings of the day!

With reduced GST, various products will be affordable to all of us thus demand for products definitely increase in the market this increases the manufacturing of products in our country that will surely increase the economic growth of the country.

And also it benefits to human welfare as various lifesaving expensive drugs will be affordable for us.

By reducing GST government receives less amount in the form of a tax but it can be conquered by the huge demand for products. So no need to worry. It will definitely boost our economy.

Thanks a lot!

Hello Everyone.

In my opinion, present GST system is good for the Indian economy.

But as we know In India people have different classes, for lower or middle-class people this GST system is not good because they don't want to pay taxes.

So, I think for lower or middle class people GST must be reduced.

Other side elite-class people don't hesitate to pay taxes.

This way reduction in GST will boos our Indian Economy.

Hello everyone,

In my opinion, Reducing GST could stimulate economic growth in India by boosting consumer demand, improving business competitiveness, attracting investment, and simplifying the tax system. However, the overall impact would depend on how the government manages the potential loss in revenue and ensures that essential public services and infrastructure are not compromised. To maximize the benefits, a well-thought-out strategy to support long-term economic stability and growth would be required.

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 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 the coming years India will increase its economy and can compete with the largest economies like China, Japan, etc.

Hello everyone.

According to my point of view.

The Indian government's GST concept was introduced in 2017. This is the milestone of India's economic growth, the government income suddenly doubled and trible. The government use so many infrastructure projects like national highways, scholarships, health, education, electricity, irrigation facilitie,s etc.

Disadvantages and limitations.

1. Small-scale business units faced high-level tax, it causes a reduction in profit it affecting to run the business it's leading to the closure of businesses.

2. Tax corruption is to be doing for example, rule the agriculture, cultivating, farming, there is no tax, the big businessman maintains that all profit only from agriculture, that why no tax. Give some money to government officer's that's it.