Great step taken by Indian BJP Government on GST & Demonetisation !
Great step taken by Indian BJP Government on GST & Demonetisation !
GST: One nation one tax rate
The launch of a new nationwide Goods and Services Tax (GST) in July transformed India’s 29 states into one market with one tax rate. Some critics will not agree with me but hey, this happens to be the best policy of Modi Government. This is going to help Indian economy in a long run. GST would subsume with a single comprehensive tax, bringing it all under a single umbrella, eliminating the cascading effect of taxes on the production and distribution prices of goods and services.
GST offers benefits to the government, the industry, as well as the citizens of India. The price of goods and services is expected to reduce under the new reform, while the economy will receive a healthy boost. It is also expected to make Indian products and services internationally competitive.
Demonetisation
Some people argue that demonetization was actually a failure of Modi government but still it has helped the government to track black money which was kept hidden by tax evaders and demonetization has helped it uncover the huge amount of unaccounted cash. It also promoted cashless India and helped to increase taxpaying community in India. You might argue that majority of currency which was banned came back into bank accounts, isn’t it? But this ultimately helped the government to track down the corruptionist and the work is still going.
GST: One nation one tax rate
The launch of a new nationwide Goods and Services Tax (GST) in July transformed India’s 29 states into one market with one tax rate. Some critics will not agree with me but hey, this happens to be the best policy of Modi Government. This is going to help Indian economy in a long run. GST would subsume with a single comprehensive tax, bringing it all under a single umbrella, eliminating the cascading effect of taxes on the production and distribution prices of goods and services.
GST offers benefits to the government, the industry, as well as the citizens of India. The price of goods and services is expected to reduce under the new reform, while the economy will receive a healthy boost. It is also expected to make Indian products and services internationally competitive.
Demonetisation
Some people argue that demonetization was actually a failure of Modi government but still it has helped the government to track black money which was kept hidden by tax evaders and demonetization has helped it uncover the huge amount of unaccounted cash. It also promoted cashless India and helped to increase taxpaying community in India. You might argue that majority of currency which was banned came back into bank accounts, isn’t it? But this ultimately helped the government to track down the corruptionist and the work is still going.
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