Skip to main content

Trilok, India Move Towards Economic Integration With GST


GST – it is good, it is simple and it benefits 125 crore Indians, PM Modi. However, The Government efforts to make India a better place for business and removing the complex cascading tax structure. Replacing the existing tax system with the new GST – One Nation, One Tax and one market will surely promote the image of India globally. Experts are saying that it will make a good economic growth to India, this growth benefits will be transmitted from the manufactures to the end users.
More Specifically, GST Launched but the Evolving model of GST are amendable too. It can be amend according to the National as well as International Economic Environments. While, it is Missguided by some of mainstream media which is not good for freedom of Press.. Remember, GST is a part of our National interest to serve Public at large. Through this way we can achieve the Goal of Economic Integration. Now we have both, POLITICAL (1947) & ECONOMIC FREEDOM (2017).

Moreover, GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. It will ensure that indirect tax rates and structures are common across the country, thereby increasing certainty and ease of doing business.
Original Source : India Move Towards Economic Integration With GST, India’s Journals.
With the promise of ‘One Nation, One Tax, One Market’, it would create a border-less world of 1.3 billion people, producers and consumers engaged in a seamless exchange of goods and services, skill sets and capital, labour and ideas. Some of Top Business icons says that, GST is not just another piece of transform, it is the liberation of our economic imagination. In Short, It is our economic freedom.
Significantly, GST is one indirect tax for the whole nation, which will make India one unified common market. it is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.
Further, Unification of different indirect taxes under GST will give boost to the existing tax-credit system, which will drive tax efficiency for manufacturers, wholesalers and also for consumers of goods. This will decrease the overall cost incurred by manufacturing sector which will reflect in various inflation indices in long-term.
WHY GST : BENEFITS
  • Reduction in multiplicity of taxes
  • Cycling corruption and faq bill
  • Promoting economic unity and Integration
  • Mitigation of cascading/double taxation
  • More efficient neutralization of taxes especially for exports
  • Development of common national market
  • Simpler tax regime
  • Simpler Tax system
  • Reduction in prices of goods & services due to elimination of cascading
  • Uniform prices throughout the country
  • Transparency in taxation system
  • Increase in employment opportunities
  • PM Modi : GOOD AND SIMPLE TAX etc….
Single and transparent tax proportionate to the value of goods and services: Due to multiple indirect taxes being levied by the Centre and State, with incomplete or no input tax credits available at progressive stages of value addition, the cost of most goods and services in the country today are laden with many hidden taxes. Under GST, there would be only one tax from the manufacturer to the consumer, leading to transparency of taxes paid to the final consumer.
Relief in overall tax burden: Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers.
Consequently, Paradigm shift in indirect taxation in India and move towards economic integration, This will increase the competitiveness of Indian goods and services in the international market and give boost to Indian exports. Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers. Simple and easy to administer: Multiple indirect taxes at the Central and State levels are being replaced by GST. Backed with a robust end-to-end IT system, GST would be simpler and easier to administer than all other indirect taxes of the Centre and State levied so far.. Thank’s.
Author, is currently Honorary Student, Kirori Mal College, DU, Department Of political Science and Founder/CEO at IASmind & YD.

Popular posts from this blog

FARMER'S DISTRESS AND RURAL ACTIVISM IN INDIA, TRILOK SINGH

“The future depends on what you do today", Mahatma Gandhi. Above statement has resounding relevance in the context of today, characterized by the emergence of a society comprising of ordinary men and women armed with courage that has had the power to change systems. While mainstream media coverage has brought national attention to the condition of farmers in India. Indeed, Indian farmers are in agrarian distress or agrarian Crisis mode but our governments remained unchanged or unaffected with regard to farmer's demand. Recently, huge number of farmers from across India collectively gathered in the National Capital at Ramlila Maidan, On November 20, 2017. Further, they are protesting against the cost versus income imbalance recently being faced by our farmers, leading to suicides and indebtedness. But again i want to say that, "such kind of Protest and Strike is not an option because it is a loss of farmer not of Government but Government should take farmer and agricultu…

LALU VS NITISH, NITISH BYCOTTING LALU

BIHAR CM RESIGNED TODAY, NOW BECOMES LALU VS NITISH, NITISH BYCOTTING LALUJuly 26, 2017
Salute, Salute and Salute#No words#JAI HIND... This is the indication of our military Power..https://t.co/wJZZCv1ShN — Trilok Singh (@beingtrilok) July 26, 2017
देश के, विशेष रूप से बिहार के उज्जवल भविष्य के लिए राजनीतिक मतभेदों से ऊपर उठकर भ्रष्टाचार के ख़िलाफ़ एक होकर लड़ना,आज देश और समय की माँग है — Narendra Modi (@narendramodi) July 26, 2017
After a very big Drama in Bihar politics, on Moral Ground  Nitish Kumar today resigned from the Chief Miter postnis, Bihar. Nitish kumar said that, I have resigned in the interests of Bihar... Kumar also met Governor Kesari Nath Tripathi at Raj Bhawan to submit his resignation amidst a standoff with ally Lalu Prasad-led RJD.  "Under the current situation it's not possible for me to continue with the government. I tried to find a solution. I had requested Lalu Yadav a .. After resignation, Nitish Kumar gets PM Modi’s praise for joining ‘fight agains…

Why Electoral Funding at Present is The Fountainhead of Corruption?

"Leadership is not about the next election, it's about the next upcoming generation.", Simon sinek. As a citizen of India we proud of our Indian Democracy but few of us bother to fund a political party of our choice.. It is very hard to articulate or imagine a present developed or developing political structure or so called 'system' that can do without its political funding, digitizing and institutionalizing parties and election effectively rooted in social, political, economic and cultural cleavages with voter alignments too.
Generally, it is crucial that an 'Election Agency' cannot be part and parcel of the government and should be insulate from the governmental influences of any layers or levels. So, it automatically becomes 'Centralised Election Agency'. Such kind of agency may provides the opportunities to learn from the experiences of different sub National elections to the ruling party. i.e., In 2006 West Bengal Assembly Elections..

Following …