GST REQUIREMENTS , REGULATORY MEASURES, MANDATORY REQUIREMENTS
GST is " Goods and Service tax". All the erstwhile taxes are grouped to one platform. Bothe the state and federal set ups of Governments have their stake in the collected amount.
We as responsible citizens are paying GST today. The GST paid on items, are all increases the cost of living of the citizens.
The recent increase in the list to contain all packed items to have 5% GST.
This nominal amount is levied not for increasing the collection of GST amount. They are collected to BLOCK THE TRADERS / Businessmen WHO HAVE LARGE TURNOVERS BUT ESCAPE INCOME TAX FILING.
Large number of traders are belonging to this category in our country. In order to net them into the income tax bracket through their turnovers this 5% of tax is levied.
Income tax payment through the respective turnovers is a mandatory requirement for the Governmental requirements.
The present rate of 5% GST is a regulatory requirement.
As good citizens let us pay this GST and improve the financial capabilities of our Governments. more
We as responsible citizens are paying GST today. The GST paid on items, are all increases the cost of living of the citizens.
The recent increase in the list to contain all packed items to have 5% GST.
This nominal amount is levied not for increasing the collection of GST amount. They are collected to BLOCK THE TRADERS / Businessmen WHO HAVE LARGE TURNOVERS BUT ESCAPE INCOME TAX FILING.
Large number of traders are belonging to this category in our country. In order to net them into the income tax bracket through their turnovers this 5% of tax is levied.
Income tax payment through the respective turnovers is a mandatory requirement for the Governmental requirements.
The present rate of 5% GST is a regulatory requirement.
As good citizens let us pay this GST and improve the financial capabilities of our Governments. more
Viewed by 684
View all 10 comments Below 10 comments
Dear Mr. AMIDALA SUNDARARAJULU I do not agree with your justification for increase in GST. Perhaps you are aware that business having annual turnover of up to 20 lakhs are exempted from GST registration. Personal income tax is the root cause of Black Money generation. It should be abolished. Government should bring all goods and services under GST including Petrol & Diesel which are outside its purview. Government also needs to remove the loophole in GST of Input Tax Credit which is 400% of GST collection as per govt. data. This is responsible for GST fraud running in to hundreds of crores only a small portion is caught. It is also a source of corruption by GST officials. more
Jul 20
Respected AMIDALA SUNDARARAJULU G might be in the category stated in above response or be in a VERY HIGH INCOME GROUP to whom increase of GST will not affect or may be in lucrative job as this increase of GST impacted crores of people whose condition is already pitiable. Stake of State Govt is according to Center not with the desire of State Govts. State most are ruled by majority party so other have no say but to follow. Poster thinks if we will not pay higher GST we will become irresponsible citizens. For Bhakats or Higher income group it may be nominal but for lower, middle class , pensioners (who are already being looted by decreasing Interest Rates, lowering Income Tax rates for corporates), where single earning hand, where no job, job at very nominal Salary. If the situation is "They are collected to BLOCK THE TRADERS / Businessmen WHO HAVE LARGE TURNOVERS BUT ESCAPE INCOME TAX FILING.Large number of traders are belonging to " this is utter failure of Govt for which lower income or majority of people are tortured. Moreover big crocodiles have a number of professionals to save taxes and small and medium are even had to pay from their nose to these professional. So Sir keep such sentiments/ emotions / with your selves, do not sprinkle sale as stated above on the wounds, and if you are such responsible for payment of INCOME TAX than today simultaneously post another post to INCREASE INCOME TAX ON HIGHER INCOME GROUP, RESTORE INCOME TAX RATE OF CORPORATES FROM WHERE IT WAS CUT. more
Jul 20
On one hand inflation is higher and sr citizens savings interest is coming down and on the other hand govt instead of giving benefits are increasing basic necessities tax also under one pretext or the other.I think all of us should protest.A survey should be made by LC whether it is justified or not and sent to the govt for their feedback. more
Jul 19
One may feel smart to justify such imposition of GST on food items but it's an idea of a ruthless mind. Revenue generation is not the only key to run a country as present system dictates. Such imposition may bring an enhancement for a short while only but it will make no favour in long run. So many defaulters fled the country and still nothing has happened. Why can't bring these guys and collect the amount with penalty to bridge the gap? more
Jul 19
