GST- BOON OR BANE

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Goods and Services Tax

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Presentation Transcript

Boon or Bane :

Boon or Bane

Tax …….Why (India has Federal Structure) :

Tax …….Why (India has Federal Structure)

Reason for GST:

Reason for GST Replace indirect Taxes Remove Cascading Effect Market Expansion Smooth Business

India’s GST:

India’s GST

Some Clarification…:

Some Clarification … India has federal structure (article 246(a)) – law making power. (GST) Market oriented economy is very dangerous. GST council recommended maximum of 15 %. 28 % GST is world highest indirect tax. 1211 products & services covered in GST Out of which 81 % of Goods & services levied 18 % of GST. Even credit sales comes under GST. Digi India supported product and services tax hiked. Govt says….less tax collected but price of the product increased, so LAW execution is our problem (billing format). Only 4 states contributes 50 % direct taxes to central Govt (high imbalance among states)

Slide8:

Still people could feel the fire of demonistation (its result???). India has many category killer brands. GST will abolish. GST should not exempt any category….but exempted in India. No way Govt supported people startup but much interested to get benefit from folks…… GST will abolish state autonomy (Canada 7 to 12 % GST Can levied by state). Govt should not decide my Consumption/Category (affects purchasing power) There is no clear idea on return benefit to the tax payers …..(Canada…5% but free education and medical facilities). India dripped from developing economy into lower-middle-income economy. (Nations will be ranked based on its prosperity and folks standard of living )

Slide9:

Union or Province

“SELF EMPLOYMENT” (from unorganized into organized good but SPEED….. :

“ SELF EMPLOYMENT ” (from unorganized into organized good but SPEED…..

Destination Based TAX (all states are not equally developed):

Destination Based TAX (all states are not equally developed) Production State Consume State

Tax Justification? 70:30:

Tax Justification? 70 : 30 But

“Grand Bargaining” :

“Grand Bargaining”

“Revenue Neutral” :

“Revenue Neutral”

Affects Digi-India :

Affects Digi -India

LACK OF TECHNOLOGY & AWARNESS:

LACK OF TECHNOLOGY & AWARNESS

No tax for food grain!!!!! BUT :

No tax for food grain!!!!! BUT

Inflation :

Inflation

Slide19:

AT LAST………. Don't Purchase without bill Dr.S.BALAMURUGAN Faculty-Periyar Institute of Management Studies Periyar University Salem-11 balaprims@periyaruniversity.ac.in 9994477858

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