What are the bad effects of GST in common people ?
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there are various adverse effect of GST
1 comman people have to face inflation
2 many business has shut down
3 they have to face crisis
1 comman people have to face inflation
2 many business has shut down
3 they have to face crisis
Nikhil7492:
when a new reform or bill comes and a new law is imposed,it surely leaves its impact especially on the common man.It is ultimately the common man who is directly or indirectly affected by the implementation of any new tax.
then what can I do
Actually i have to write a letter to the editor about bad effects of gst..so can u help me?
maybe
Answered by
1
A well planned and implemented tax policy can bring about qualitative change in tax system of a nation. GST- India is expected to bring about this qualitative changes leading to business reforms in India.
GST has both positive and negative impact at micro level on the average Indian.
GST, being a simplified tax policy, removes cascading effect of taxes leading to cheaper cost of various products (eg. FMCG), more job opportunities, more transparency, reduction of tax burden on end consumers, improvement in Indian economy in long run, etc. On the contrary it may have few drawbacks such as initial inflation leading to higher prices of products, rescheduling budgets, higher compliance cost, etc.
At a macro level, GST will greatly influence Indian economy, leading to increased FDI, increased in overall government revenue, seamless flow of credits, transparency in tax system, increased exports, etc.
All in all, GST is expected to be a boon for nation like India.
GST has both positive and negative impact at micro level on the average Indian.
GST, being a simplified tax policy, removes cascading effect of taxes leading to cheaper cost of various products (eg. FMCG), more job opportunities, more transparency, reduction of tax burden on end consumers, improvement in Indian economy in long run, etc. On the contrary it may have few drawbacks such as initial inflation leading to higher prices of products, rescheduling budgets, higher compliance cost, etc.
At a macro level, GST will greatly influence Indian economy, leading to increased FDI, increased in overall government revenue, seamless flow of credits, transparency in tax system, increased exports, etc.
All in all, GST is expected to be a boon for nation like India.
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