About GST(Goods and Service Tax) in India

The marathon debate that took place in the Parliament on Goods and Services Tax (GST) has given a hope that the country will soon adopt a new tax regime. Of course, there is no alternative to it, because the existing indirect tax regimes in the country will lose their legal status in the next few months and because it can not happen that the country should go without any tax regime, hence the government And Parliament will have to overcome all its obstacles soon.



However, for the past few years, things related to GST have been presented in such a way that its support and opposition is being done only for political reasons. It has been shown that Congress and the UPA government are preparing for GST all the time, but the opposition is putting obstacles. Then after 2014 things began to be presented in such a way that the BJP and the NDA government are committed to GST, while the opposition parties are hindering it. Opposition politics has continued to run, but this is not the complete truth of GST. Like many other countries of the world, the idea of ​​adopting the GST system in India was first accepted at the time of Atal Bihari Vajyapei's NDA government. After this, a committee headed by then finance minister of West Bengal and led by CPI (M) leader Asim Dasgupta was formed to prepare the template. Unless the report of the committee came, the Manmohan Singh government was formed at the center, which had prepared a roadmap after a long discussion with the State Governments and after a period of consensus-disagreements. Since 2014, the present NDA government is engaged in implementing it. For this, which took more than 18 years, it can take longer than expected, but the political consensus we have created for it, is less than any achievement. Achievement also states that between all political pulls, the country has maintained its tendency to grow in the direction of perception. If GST is implemented, then we will reach the age of 'one country, one tax system'. Until a few years ago, this concept seemed impossible, as well as against the spirit of federal structure. But now, despite all the new objections, all the states of the country are taking part in it increasingly, they have come to understand the profits and losses of business between different types of taxation. Although there are many different doubts about GST yet. What would be expensive? What would be cheaper? What will be the impact on the common people? Its exact estimates are not available. Every round of change is also a period of such skepticism. Great hope is that by this tax liability may be less, revenue will increase and more money will be available for public welfare programs. By the way tax liability is not fully related to taxation. If taxation is rational, there should be less contradictions and provisions such as tax evasion and deficit can be reduced, tax liability can be reduced. Again, there is a matter of political commitment to preventing tax evasion, even administrative efficiency. It is also associated with black money. If black money is present in the economy, then it will find a way to defy rules. GST is not a guarantee of honesty in itself, but if it is implemented honestly, then guarantee can be guaranteed prosperity.

Comments