Impact of gst towards individual taxpayer
Answers
it will hopefully raise revenues for the government, assuming that every person or company in the supply chain collect and pay the government. GST(= Goods and Sales Taks) obviously makes things expensive to purchase.Here in The Netherlands the finance minister Dijsselbloem decided to raise GST (here called BWT or in English VAT), saying he would be able to rake in an additional Euro 3.8B.
As I also teach course in economics, I gave an assignment to my students wherein they had to examine the BTW/VAT/GST proposal and comment on whether the minister would be successful. 80% of the students said he would not! A year later the government report said that the country had been able to only raise about Euro 1.8B less than half envisaged by the briljant minister. My students appear to be smarter than the minister!!. Now the question dear reader for you to address is this: Why was the minister wrong and my students were right?. BTW, these students were in the 2nd year of a Bachelor's degree course
How will the introduction of GST in India will impact the individual taxpayer?. Available from: https://www.researchgate.net/post/How_will_the_introduction_of_GST_in_India_will_impact_the_individu... [accessed Jul 11, 2017].