India

Is really GST boost for business as NDA government ensures

Is really GST boost for business as NDA government ensures
Written by Pallavi Parmar

NDA government ensured that GST ( goods and services tax) is the boost for business and they claim that it will boost Indian economic growth. This landmark reform implemented after the discussions between State and Centre from 33 years. And it ensures to implied one tax to one nation across India. Today Twitter has overflowed with several tweets of the BJP ministers and supporters with hashtag GST boost for biz. While on the other hand if we see there are many people who still don’t understand the regime of uniform tax and opposition demanding to roll back disability tax. There are many strikes were noticed against GST in only three days. Yesterday Tamil Nadu’s theatres were closed as the owners went on the strike against GST.  Similarly like Tamil Nadu, there are many strikes were noticed in Delhi, Mumbai and other cities.

Overall we expect that the GST will contribute to productivity profit and higher GDP growth by improving the ease of doing business through unifying the national market and enhancing India’s foreign investment. And it is to be said that Gst will also support the higher revenue generation of the government through improved tax compliance. BJP Uttar Pradesh tweeted small products like soap, hair oil and toothpaste will get lesser in price. And it will be profitable for the small entrepreneurs. The government divided this goods and services tax into four slabs such as 5%, 12%, 18% and 28% along with a cess on luxurious products. So now we have to wait and watch whether NDA government will be able to boost business and the economy of India through this new goods and services tax reform or not.

About the author

Pallavi Parmar

Journalism is my profession, Blogging and Writing are my passion, Travelling is my love, Food is my life and Feminist by nature.