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  #1  
Old June 29th, 2017, 03:30 PM
Napolean Napolean is offline
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What is GST?

Can someone explain how is it going to benefit India as a country? Also, is it going to somehow reduce tax theft?
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  #2  
Old June 29th, 2017, 09:04 PM
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Re: What is GST?

GST is something that Congress could not do in a long time and now that Modi has done it, they are crying foul. Cant blame them when a retard like RG is thier leader and cannot comprehend it

Anyway, I dont have time or the understanding for a detailed reply. But will give an example of why it is supposed to simplify. Earlier all the states had their own state taxes on goods and services. For example, buying a car would not cost the same in Delhi, Mumbai and Chennai. Even within a state a car would cost less in Thane than in Mumbai because of the difference in road taxes, insurance, etc. So people would buy and register in Thane and drive in Mumbai. Also, any other state registered vehicle could not be driven in MH without re-registering and paying the difference in road tax for the vehicle. Such differences will go. It is easier on consumers as well as the businessmen. This is just an example. Not sure if it is completely covered in GST.

Some goods used to have a different MRP based on the state where it is sold. People used to leverage these differences in MRP through black marketing and avoid tax. Hopefully these are also taken care of.

More when I understand more....
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Old June 29th, 2017, 10:08 PM
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Re: What is GST?

Quote:
Originally Posted by Bhidubhai View Post
GST is something that Congress could not do in a long time and now that Modi has done it, they are crying foul. Cant blame them when a retard like RG is thier leader and cannot comprehend it

Anyway, I dont have time or the understanding for a detailed reply. But will give an example of why it is supposed to simplify. Earlier all the states had their own state taxes on goods and services. For example, buying a car would not cost the same in Delhi, Mumbai and Chennai. Even within a state a car would cost less in Thane than in Mumbai because of the difference in road taxes, insurance, etc. So people would buy and register in Thane and drive in Mumbai. Also, any other state registered vehicle could not be driven in MH without re-registering and paying the difference in road tax for the vehicle. Such differences will go. It is easier on consumers as well as the businessmen. This is just an example. Not sure if it is completely covered in GST.

Some goods used to have a different MRP based on the state where it is sold. People used to leverage these differences in MRP through black marketing and avoid tax. Hopefully these are also taken care of.

More when I understand more....
Thanks Bhidu.

The wayh whatspapp forwards are coming up , it seems GST is going to put a heavier load on consumers. How much truth is there in that?
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Old June 29th, 2017, 10:48 PM
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Re: What is GST?

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Originally Posted by Napolean View Post
Thanks Bhidu.

The wayh whatspapp forwards are coming up , it seems GST is going to put a heavier load on consumers. How much truth is there in that?
Will post the detailed tax rates later. But govt claims 81% of goods will attract lesser tax than before.

However a simple answer now - what is paining people is that now you cannot say I will pay in cash and no need for a bill to avoid tax. Earlier people used to do that. If you want to avoid paying VAT or other applicable taxes, be ready to pay in cash and the merchant will just give you a "kaccha" handwritten bill or no bill at all. All that should ideally go now. People will have to pay tax and merchants have to pass that on to the govt. There wont be any concept of kaccha and pakka bill for the consumer and 2 books of accounts by merchants.
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Old June 30th, 2017, 03:09 AM
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Re: What is GST?

My friend is buying a flat in Pune and price has shot up from 93 lakhs to 99 lakhs due to GST.
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Old June 30th, 2017, 07:33 AM
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Re: What is GST?

The retard Rahul says this govt is incompetent to roll out GST. Dude, do you realise that this guy Modi is doing it in 3 years while you would take forever? So who is incompetent?

Can't believe these jokers from INC keep claiming credit for GST while it was seeded by Vajpayee.

BTW, Modi govts USP has been time-bound execution without getting tied into analysis paralysis.
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Last edited by Bhidubhai; June 30th, 2017 at 07:39 AM.
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Old June 30th, 2017, 09:34 AM
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Re: What is GST?

Quote:
Originally Posted by ashdoc View Post
My friend is buying a flat in Pune and price has shot up from 93 lakhs to 99 lakhs due to GST.
How did that happen?
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Old June 30th, 2017, 02:20 PM
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Re: What is GST?

Quote:
Originally Posted by ashdoc View Post
My friend is buying a flat in Pune and price has shot up from 93 lakhs to 99 lakhs due to GST.
Out of curiosity, could he have cheated on taxes before GST kicked in?
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Old July 5th, 2017, 10:28 AM
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Re: What is GST?

Quote:
Originally Posted by ashdoc View Post
My friend is buying a flat in Pune and price has shot up from 93 lakhs to 99 lakhs due to GST.
somethings are expected to get more expensive. a straight to straight comparison makes real estate more expensive as total of taxes service tax + VAT + Cess etc is less than GST applicable.

however (it seems) individual components in the building are going to be cheaper as GST on those things is less than total of applicable tax.

Some people reckon this should reduce the overall cost of real estate but I am sure the builders in our country will take advantage and not pass on the advantage.
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