Days after GST introduced in India

GOODS AND SERVICES TAX

well sir/madam,

As you know its totally a new concept in INDIRECT TAXATION field in Indian TAX structure.

By making comic GST may be says as (good knight,sweet dream,take care) yes i will completely agree with these tag in the sense by saying bye bye to all previous different  indirect tax laws but exclude Custom.

Now let me welcome GST as (good and subidha tax) which is tagged by our honorable prime minister Sri Narendra Modi ji, well sounds fun isn't it?

Allow me sharing my experiences what practically happening in my surroundings

IN CASE OF  PROFIT MAKERS.

The prices will never fall as claimed by the Government for no business person would reduce the existing costs but he will be interested in making more profits instead. This is true because the main motive of an enterprise is to earn profits . Say, for example , I go to a hotel and eat food worth Rs.100 and according to the old rate I am charged with 18% tax i.e 118 will be the bill rate , but now with the new tax rate under G.S.T the total will be 105 . But no enterprise will want to lose that extra Rs.13. Hence, this will be the new profit for the firm. This proves the fact that the prices will not fall as claimed.

One of my client got registered on GSTN & guess what? he is not filing his monthly RETURNS & said let see what happen?what govt. will do? He got registered himself on GSTN  ONLY for LOAN purposes.

I HOPE, you all are enjoying my blog and kindly suggest me for betterment.

FEEL FREE TO ASK IF ANY.

THANK YOU 

HAVE A NICE DAY.