Voice Of The People

Pradip Bhandari,Jan Ki Baat on BTVi gives slogan on Modi Sarkaar ka GST Sudhaar

Goods and Services Tax came into existence from July 1, 2017. In simple words, GST is a combined tax that would be levied in order to minimise all the other taxes.

Although, it proved beneficial for some, it also made many worse-off. It has been three months since GST has been rolled out. So, it becomes necessary to discuss and talk about the consequences for any further changes.

On 6 October, the government presented some new amendments to GST.

Pradip Bhandari summarised this change in a single hastag- ‘Diwali ki pukaar, Modi sarkar ka GST Sudhaar’.

Here is what he said-

“This is clearly a decision taken for the exporters who were feeling the brunt of the whole compliance.”

“The Reverse charge mechanism is a big revolutionary step.”

“There is clash between the critics who are asking if the government is acting in an ad hock manner while they say that it is a responsive government.”

“The Finance Minister Arun Jaitley stated that the country should move towards a lower tax base and less GST rates. This requires a roadmap.”

Here are the key changes that took place-

  • A relief for small and medium traders and also exporters.
  • The council agreed to raise the threshold for the composition scheme.
  • RBI Governor has suggested simplifying GST to boost growth.
  • The reverse charge mechanism has been suspended till March 2018.
  • One decision was to let businesses with less than 1.5 crores annual turnover to pay taxes on a quarterly basis.

To know in detail, click here.

GST, from the very inception of its idea till now has always been a burning issue to the people. This is something that can modify our economy incredibly.

Jan Ki Baat will give more updates on GST. Keep following us.


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