GST collection drops in Nov by more than Rs 10K cr

[ashok321]

• Top 5 steel companies in bankruptcy process face Rs 2.09 lakh crore claims

Lolwa..

 

[ashok321]

• India needs leadership that listens to people, not followership: Raghuram Rajan

 

[DarX]

Please explain if you know

What is your point? If you want to learn how GST works, Google it.

 

[Mage]

@Nilgiri @Joe Shearer How is GST working for India? When I read about it, I thought it was a good idea. But it seems it is getting some bad press these days.

 

[DarX]

@Nilgiri @Joe Shearer How is GST working for India? When I read about it, I thought it was a good idea. But it seems it is getting some bad press these days.

GST was a great idea. It's main aim is to simplify taxation so that no time is lost on navigating complex tax procedures and all resources are focused on production. However, the implementation by Modi was terrible. According to reports, the online network has bugs, the filing is cumbersome and worst of all, there are 6 rates instead of 1 rate, which magnified tax complexity and allowed room for misdeclaration.

 

[rambro]

Modi learned GST from France who started it back in 1954, and now he wants to make it a case study of it in Harvard.

Lol at self-aggrandizing Modi.

Ulu banana tau koi Modi se sikhe.

Struggling companies signal a slow recovery for Indian growth

I thought he learnt from malaysia :3


Anyway, france is a developed country with decent gdp percapita

 

[ashok321]

I thought he learnt from malaysia :3


Anyway, france is a developed country with decent gdp percapita

Malaysia is doing better with just 6% GST.
Poor non Modian Indians are paying up to 28%.
This is a tax terrorism.

 

[AndrewJin]

You do realise the previous tax system was extracting way more and way worse inside the product chain? GST at least is working to only tax the final rather than intermediates. It is ongoing analysis in the implementation (i.e what are the most relevant intermediates in question given some are also final products)....this govt at least takes feedback and works to incorporate it....unlike previous govt (if you know for example how it implemented VAT against the feedback it received). It could have done a lot better, but it has to start somewhere, (nothing is perfect from day 1) and work consistently to make it better, which it is doing.

The lower cherry pick tax collection numbers in interim period is actually a good thing, it is reflective of a) less (esp short term) intermediates being punished b) delayed tax regime on many final consumable so there is adjustment period for the companies. And no people are not avoiding the tax, the tax base is much increased since only final products and services matter rather than bargaining and bribing about how to tax intermediates and basic inputs which saddled India with terrible price cascading in the so called post-reform (1991) period unlike what Deng Xiaoping reset (quite smartly) for China in the 80s.

india is never deficient in grand plans.
Implementation is always a mess.

Malaysia is doing better with just 6% GST.
Poor non Modian Indians are paying up to 28%.
This is a tax terrorism.

28%?

 

[rambro]

Malaysia is doing better with just 6% GST.
Poor non Modian Indians are paying up to 28%.
This is a tax terrorism.

I feel u mon
Even malaysians complaints about living getting unaffordable due to gst which citizens bare the price hike

 

[ashok321]

india is never deficient in grand plans.
Implementation is always a mess.


28%?

Imagine richer Singapore. Measly 7%. While Modi bleeds already poor Indians.

I feel u mon
Even malaysians complaints about living getting unaffordable due to gst which citizens bare the price hike

Our filthy rich neighbor Singapore only at 7%...

 

[AndrewJin]

Imagine richer Singapore. Measly 7%. While Modi bleeds already poor Indians.



Our filthy rich neighbor Singapore only at 7%...

we have 3% tax rate for small businesses no matter what products they sell.
But we also have 17% for imported products.
Maybe one day we just adopt the Singapore style fixed rate for all products.
Simple and straightforward...

 

[ashok321]

But we also have 17% for imported products.

This is Customs duty.
Different from GST.
India charges 100% Customs duty on luxury cars which China does not.

 

[AndrewJin]

This is Customs duty.
Different from GST.
India charges 100% Customs duty on luxury cars which China does not.

No, 18% for all imported products is for VAT (value-added tax)
That is the highest rate for all tradable products and services.

 

[Indian wonk]

28%?

Only 50 products are in the 28% tax bracket .

https://gst.caknowledge.in/list-goods-covered-gst-28-rate-items/

 

[AndrewJin]

@ashok321 Just check indian GST....OMG, it's so complicated......
How is that even practical in real life?
Some country which is famous for implementation of policies chooses to use a fixed rate...
And for india.....choose one of the most complicated regimen....

Only 50 products are in the 28% tax bracket .

https://gst.caknowledge.in/list-goods-covered-gst-28-rate-items/

Air-conditioning???
OMG, that is every family's basic product.......