Impact of GST on Indian Economy



  • Is this the correct time period for government to introduce GST bill because our country economy got affected by demonetization last year ?



  • The benefits of GST shall be visible only in the long run.Being a new tax reform, there might be certain difficulties faced initially, but slowly and gradually we need to adapt to the new environment.We can hope that this leaves a positive impact on Indian economy.You can refer our detailed article http://fintrakk.com/gst-impact-of-gst-on-indian-economy/ for deeper insights.



  • The customers now a days have to pay different taxes with different amount (like service tax in the hotels and entertainment taxes in movie theatre ) so how the end customer will get benefit from that bill ?



  • I’m doing Project on GST. I wanted to know what service tax do logistics industry pay and what abatement are available to Logistics service providers.



  • GST is the core of the economical statistics and it has huge impacts on the production of companies at the broader level. Small companies are impacted by it but upto a negligible stance. You must have to keep an eye on it as an investor. Stay blessed!



  • We all should see the big picture. The GST tax is for the long run. I know that it has some bad affects now but you will see the benefits in the future. I know paying taxes is a gruesome thing but the country runs on these taxes. We should always look at the positive picture no matter the circumstances.


  • administrators

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  • You may be right but to some extent only. There are certain loopholes which need to be looked upon in this new tax system. This had a huge impact on small businesses and traders, whose growth is crucial for the economy as a whole. It will take some time for the ones who suffered due to this transition to overcome and regain their normal base. In the long run, this might prove a beneficial tax system but initial hiccups are really painful for many.
    Hope to see a better positive impact as more people get used to it.


  • Banned

    The introduction of GST offered more straightforwardness in the tax framework. Although, it has not been so easy to adjust to this new tax structure. But, slowly and gradually traders have accepted it.

    Overall, GST can prompt large development of Indian Economy. Steps are being taken to further simplify the procedure and make it easy to comply with this tax reform.



  • GST is deployed by the government in the tax reforms. It suggests the economy of the country and every country want to improve in this field. The govenment highly rely on these taxes in order to run their system and they always try to manage the demands of the consumers.


 

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