Assignment on the impact of GST on belpw poverty line??experts only please
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Indirect taxes are born by the ultimate consumer of goods or services and hence, there is no denying fact that GST will impact every single person in India.
In India, around 22% of the population is below the poverty line in India. No country which dreams of becoming an economic superpower can digest this huge number of poverty. In economics term, this category has negative savings.
However, GST implementation will have a favourable impact on this category of population. People in this category are starving for basic facilities, and these basic facilities have been kept out of GST bracket.Further, goods of mass consumption have also been kept under a marginal bracket of 5% tax rate.This is a welcome step by the government of India.
Hope it helps
In India, around 22% of the population is below the poverty line in India. No country which dreams of becoming an economic superpower can digest this huge number of poverty. In economics term, this category has negative savings.
However, GST implementation will have a favourable impact on this category of population. People in this category are starving for basic facilities, and these basic facilities have been kept out of GST bracket.Further, goods of mass consumption have also been kept under a marginal bracket of 5% tax rate.This is a welcome step by the government of India.
Hope it helps
Stranger11:
thanks a lot boss
wlcm bro
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