Question

Write a full long diary entry on how GST affects the people of India

Answer 1

At the stroke of midnight on Friday, June 30, India’s goods and services tax (GST) will become official. The sixteen-year-in-the-making taxation system overhaul – which started with the Vajpayee government in 2000, later forged into existence by the UPA governments from 2007 to 2013 and finally shepherded through by the Modi government – is here now for better or worse.

The GST has been met with, in equal parts, trepidation and excitement – trepidation over the rush to implement it by July 1 regardless of whether India’s six crore small traders and businesses are ready. And excitement over its potential to formalise India’s economy, widen the country’s tax net and improve the ease of doing business.

What will be the impact and fallout of GST in the years to come? The Wire breaks it down

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