GST - can it not be simplifed based on expected revenue
There has been several discussion on how much GST is to be charged for services and items, are businesses passing on the GST benefit to the consumers etc.
Now, just a thought:
Instead of having the consumers/customers paying the GST for every transaction, can the GST be not based on the expected revenue less the expected input tax credit, which the businesses can pay to the Government every month. They could add the GST amount to the cost of the service/product. So, they do not have to say "this is the price and then the GST". more
Now, just a thought:
Instead of having the consumers/customers paying the GST for every transaction, can the GST be not based on the expected revenue less the expected input tax credit, which the businesses can pay to the Government every month. They could add the GST amount to the cost of the service/product. So, they do not have to say "this is the price and then the GST". more
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GST is already added to the prices of finished goods and we need not pay it separately. Even recharge coupons are priced including GST and the net amount after deduction of the tax component is credited to the consumers' accounts in the cases of prepaid connections. But it is not possible in the cases of postpaid consumers as their usage fluctuate every month. So is the case in many of other services and products. But do we really face any difficulty or inconvenience if the GST is added at the time of billing? Passing on of GST benefits arises only in the event of any reduction in the exiting tax rates already added to the existing MRP and in such cases consumers should be charged lower prices. more
Jan 08
GST should be collected product finishing stage/Wholesaler stage. Service level GST should be collected from Service provider. more
Jan 07
According to me this is never possible. 1. Expected amount : As per whose expectation? 2. In case of large difference between expected and actual who will bear interest component? 3. In this computer age, one get the actual amount of liability instantly. The complete data generation and submission is just matter of key-press on computer. 4. I am submitting returns and payment on monthly basis and satisfied with current system. more
Jan 06
Problem is most people do not understand taxation and keep demanding changes ir commenting. more
Jan 07
