GST
Well, talk of the town - GST (Goods and Services Tax). How many of us are reallky aware about this recent taxing. I am CSE graduate and these terms are definitely Greek and Latin to me. My husband tried to explain GST, but i failed to interpret the purpose for the imposition of GST.
So, i did my little research. Kind of little field work. I started with the definition.
Goods and Services Tax is a Taxing Scheme introduced by the Central Government which is levied on all transactions like sale, purchase, lease, trade of import of goods and/or services.
Our country has dual GST model, meaning that the tax is administered by both Central and State governments.
If you have recently did a shopping after implementation of GST, you would have noticed SGST - an amount and CGST - an amount. This means, for a product or services, there are State GST and Central GST. For inter-state transactions and imported products and services, IGST - Integrated GST is applied. IGST is levied by Central Government.
Earlier, products or services produced out side of the state, the State Government was collecting the tax, but with IGST, if a product or service is produced out side of the state or country, only the Central Government would collect the tax.
Yesterday, Commerce and Industry Minister - Ms. Nirmal Seetharaman, answered to various questions related to GST on a local channel. She said, price of a product brought from Punjab to Tamilnadu is much more higher than the price of the product imported from Australia. It was due to the various discrepancies people find within the same country and now it is not going to be the same.
She also said, that Central Government is not imposing tax on normal needs. Seems, this scheme has been targeted on Luxury and Brand.
Saying that, recently i bought some grocery products. Considering, Ms. Seetharaman's advice, i wanted to go for some basic products which are not branded. To my surprise, i could not find any not-so-brand products. Even i find some, i was not able to buy convincing myself that it could be good on the quality. We are programmed like that. That if, Deepika Padukone says it is a good product, then it means the quality of the product is good. And for that, now, i am paying heavily. I hope many local brands with good quality products and services would emerge more. Lets hope for the best.
Anyways, it is the common man who is always suffering from these sudden changes. There is a lot of awareness needs to be created about GST.
Government says, it is for good for the people. But no one is explaining the reason how. And a fair judgement to all those workers and traders, who are protesting is required.
Well, as my husband says, there is a change. It has made us think the way we spend our hard-earned money.
Lets all hope it is for the good.
Here are the GST Contacts to answer all your GST related queries:
GST Email:
cbecmitra.helpdesk@icegate.gov.in
Toll Free:
18001200232
Help Desk Email: helpdesk@gst.gov.in
Twitter: @askGST-GOI
@askGSTech
Helpline for Taxpayers
0120-4888999
Helpline for Tax Officials
0124-4479900
I am sharing some useful ,inks related to GST.
- Scribbler
Comments
Post a Comment