GST Is Good Or Bad Know Here ? Start From 1st July 2017

GST Is Good Or Bad Know Here ? Start From 1st July 2017

GST Is Good Or Bad Know Here

GST is always a simple. It the entire economic processes of a nation whcih can be fairly taxed. You dont not have to scratch your brain about the different taxes. Now we just have to pay single tax GST. It is going to ease all the stress of the taxes from all the Indian manufacturers. They now just have to pay the lower taxes. And this will increase the scope of the better business environment and its flexibility.

History of GST

In 2000 the Vajpayee Government was started the discussion on GST by setting up the an empowered committee. Headed by the Asim Dasgupta, Finance Minister, Government of West Bengal. The committee was given a task of designing of the GST model and overseeing IT back end preparedness for its rollout.

Later in the 2006, the Union Finance Minister Shri P. Chidambaram moved towards to GST in his Budget, and proposed to introduce by first April, 2010. However. The Empowered Committee of the State Finance Ministers (EC) released on its First Discussion Paper (FDP) on GST in the November, 2009. This spells out. The features of proposed GST and it has formed in the basis for discussion between the Centre and States so far.

On 6th May 2015, the Lok Sabha passed much delayed Constitutional Amendment Bill to introduce the Goods and Service Tax (GST). Paving the way for new bill on its uniform tax regime. Even as the Congress Party staged the walkout in protest.

And finally the Goods and the Service Tax (GST) is start from first july of 2017.

The Cheaper and Costlier product after GST

The daily use of a product and service are goes to cheaper after the Gst. These are the salt, food at the small restaurants, sauces, ketchup, cutlery,fruits,vegetables,pickle,Soaps,oil,toothpaste,Airfares,travel for economy class,Apparels,Footwear etc.

And the other hand is goes to costlier after gst is Tea, coffee, train tickets, refrigerators, TVs, bikes, ACs, washing machine, Courier services, banking charges, insurance premiums, mobile phone tariffs, luxury goods and hotels, Aerated drinks, tobacco, broadband services, buying a flat,mobile bills etc.

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