One Nation One Tax - GST
In pre-GST era, there were three kind of taxes on Goods namely Excise, Sales Tax (or VAT) and CST. Excise was Central Tax, Sales Tax or VAT for State and CST for interstate sales tax. What I understand from the information available on internet, there would be three types of GST namely IGST, SGST and CGST. Doesn't that mean, anyway, all the three pre-GST era Tax components stay?
Our FM mentioned that there were nearly 80 Lakh entities registered providers of Goods or Service Tax out of which 64.4 Lakhs have already registered under for GST.
In a country of 130 Crore population has only 80 Lakhs of Goods or Service providers? It includes Corporate, MSMEs, Courier Agencies, Telecommunication Services providers, Transporters, Travel and Tour operators, Cinema Halls, Hotels, Restaurants, Bars, Apparel Outlets, Footwear outlets, Convenience Stores, Hospitals, Nursing Homes, Doctors, Advocates and other professionals etc. etc. etc.
If we start with Silver screen, the movie Tubelight is expected to be simultaneously released on 6,500 screens in India. We have a restaurant, Bar or Hotel in every nook and corner. If we visit Industrial estate in any city, there could be hundreds of manufacturing units including MSMEs. Therefore, Isn't is surprising that we have only 80 Lakhs of entities registered as Goods or Service providers.
If my assumption is correct, who are the real Tax Evaders? Individuals or Business Entities? more
Our FM mentioned that there were nearly 80 Lakh entities registered providers of Goods or Service Tax out of which 64.4 Lakhs have already registered under for GST.
In a country of 130 Crore population has only 80 Lakhs of Goods or Service providers? It includes Corporate, MSMEs, Courier Agencies, Telecommunication Services providers, Transporters, Travel and Tour operators, Cinema Halls, Hotels, Restaurants, Bars, Apparel Outlets, Footwear outlets, Convenience Stores, Hospitals, Nursing Homes, Doctors, Advocates and other professionals etc. etc. etc.
If we start with Silver screen, the movie Tubelight is expected to be simultaneously released on 6,500 screens in India. We have a restaurant, Bar or Hotel in every nook and corner. If we visit Industrial estate in any city, there could be hundreds of manufacturing units including MSMEs. Therefore, Isn't is surprising that we have only 80 Lakhs of entities registered as Goods or Service providers.
If my assumption is correct, who are the real Tax Evaders? Individuals or Business Entities? more
Viewed by 1189
View all 31 comments Below 31 comments
Its Fact Big B, FM and other ministers or High Profile Citizens of India would not affected by GST. A normal person Indian citizen's duty is to pay taxes directly or indirectly, normal peoples is only to pay the taxes and vote. Instead of this! how is India's condition of government hospital, roads, social security everyone knows. If you want to drive on good roads you have to pay Toll Tax. Police is only providing security to VIPS and ministers, we could not expect any help from police. This Government just working to change the name, as YOJNA AYOG become NITI AYOG. more
Jun 30
Hello! It's great step and would help all enterpenuers. I have a small pvt ltd co. having imported stocks in Delhi which are CVD paid but over a year old. I also have Sales tax/ GST registration in Haryana. Can we get advantage of CVD paid on stock , if so how ?? Can any one help. ?? more
Jun 30
Full form of GST trailing in Social Media : "Gai Sarkar tumhari". more
Jun 30
This govt will be more stable . People will understand its importance. Ofcourse it is a matter of 3-4 month things will be settled like Demonetisation. more
Jun 30
Latest on GST. If any Hotel or restaurant has both AC and Non-AC section, the registration of the entity will be under AC clause of the GT. Therefore, irrespective, we are eating in AC or Non-AC section, Tax will remain the same @ 18%. No benefit will be extended to the customers eating in Non-AC section. GST Brand Ambassador Big B and Law Maker FM would not be affected because they never eat in Non-AC restaurants. more
Jun 28
Are all the tree kinds of GST are recoverable separately or it will be recovered at the specified rates which are combined of all the three components and the components included therein will be segregated afterwards? If it is so means it is simplified as GST. As far as registered entities of goods and service providers is concerned, it is possible in India and the Finance Minister must have the common sense to guess and infer as to what could be the real number of such entities in a country having a population of 1.3 billion. But these are the life lines of our hundreds of political parties and their leaders. Tax evasion is one of the major sources for our leaders, ministers and the government officials to make money and run their family business and can't be permitted to dry up. Therefore we should not be shocked even if the number said to be 50,000 or less. Tax evaders have no colour or creed. Any one can evade tax here & the only thing required is to know the tricks to make the concerned agency people happy. more
Jun 26
