Historic Diwali Gift for the Nation - NEXT-GEN GST REFORM

[navdeep22]

Petrol and Diesel both State govt and central have rights so both impose tax separately

Aeroplane fuel is under GST

Alcohol is compl

I couldn't find anywhere how Mobile phones are taxed in India, I know that there is slab for them too, like higher the price of mobile higher tax will be levied on it.
Can u share that I u know

 

[purushotham]

In

It is not government's job to earn money but to provide socialistic justice to every citizen of the country. They should have stopped free ration long back and worked towards employment increase. The reduction of slabs was long suggested and removing few daily items from slabs were suggested long back; could have been implemented long back. Now also, it is not 2 slabs but 3 slabs but publicized as 2 slabs.

No need to advertise when you are correcting your own mistake. Hence, good decision, but too late and nothing historic!

In India being rich is a sin

Atleast now past year

- income tax was reduced or new slabs percentage

- Now GST reshuffle and reduction

- Even corporate tax reduced

Any how Central govt is considering middle class vote or salaried vote bank.

Only these three are under central govt excluding petrol tax .

But in my state Karnataka everything from property tax , Electricity unit charges and minimum charges, bus fare for men , alcohol tax , petrol tax , stamp duty , site registration taxes etc etc many

Just to adjust 50000 crores for voters
Free bus , electricity , 2000 monthly for women.
so that one person can be CM for 5 years.
So total 50000 * 5 years= 2.5L crores

With 2.5 L of one state we could have moved many industries from china to India.

Same case with Maharashtra, UP , Telangana, AP
These freebies

 

[purushotham]

I couldn't find anywhere how Mobile phones are taxed in India, I know that there is slab for them too, like higher the price of mobile higher tax will be levied on it.
Can u share that I u know

Before 28 % tax Flat for Smart phones
14 for center
14 for state

If it's imported extra import tax so if you manufacture here you will save import duty.

Now 18% tax i think
9 for center
9 for State

 

[Manu_CK]

In

In India being rich is a sin

Atleast now past year

- income tax was reduced or new slabs percentage

- Now GST reshuffle and reduction

- Even corporate tax reduced

Any how Central govt is considering middle class vote or salaried vote bank.

Only these three are under central govt excluding petrol tax .

But in my state Karnataka everything from property tax , Electricity unit charges and minimum charges, bus fare for men , alcohol tax , petrol tax , stamp duty , site registration taxes etc etc many

Just to adjust 50000 crores for voters
Free bus , electricity , 2000 monthly for women.
so that one person can be CM for 5 years.
So total 50000 * 5 years= 2.5L crores

With 2.5 L of one state we could have moved many industries from china to India.

Same case with Maharashtra, UP , Telangana, AP
These freebies

Agreed freebies is the problem. Also the state govt. will also have to do the work they committed while getting onto power.

If the center pays the GST share for the state back (fully & in time) then these additional taxes can be reduced at the state level.

I don't know if we can have any arrangement SGST transferring directly to state coffers rather than through central govt. In that case we can fight the state govt on unwarranted taxes. Easy to implement → automate the collection point itself to segregate and pay accordingly.

Also, all the items can be put under GST instead of picking and choosing (including Petrol & Alcohol); under the newly proposed slabs.
1. Exempted goods
2. 5%
3. 18%
4. 40%
Agreed that a political agreement needs to be made for this but the central govt. can make the initiative and most importantly behave transparently with the states (ruled by themselves or the opposition).

Till that day we have to live with what we have 👍

 

[thanix]

I don't know how many really remember Pre GST days? There was Central CenVAT, State VAT, central excise, State excise, this cess, that cess. Most of it is hidden as it was captured in manufacturing stage. Only final VAT was visible. The entire market was fragmented in each state. VAT is a system better for city states like Singapore. Not for India which has manufacturing heavy states and consumption heavy states. Does anybody remember the commercial taxes checkpoints in state borders?

GST was to unify the market place. This is a massive benefit for large businesses. It didn't eliminated corruption but made it easy to pay up. The states wanted revenue neutral roll out. So all items were placed closer to their pre GST rates. This is all given to get it done.

As usual, people were left holding their 'stick' in the air. Now it's the time middle class is remembered just to get the domestic consumption filling a partial gap as tariffs will slow down exports. If not, we will be looking at stagflation in a year.

The Diwali gift jibe is in poor taste but it is nothing new for Supreme leader. After all new Independence day is GST day, New India was born in 2016 demonetisation and now Diwali got advanced to 22 September 🤣

INC would have done the same thing. But they start low and keep increasing like the frog in boiling water story. On the other hand, BJP does surgery by giving Nationalism anesthesia.

Anyway, hope ppl know there are still 5 rates - 0%, 5%, 18%, 40% and special rate of 3% for Gold 😊