Will we be better off now with GST? Depends on what the effective rate will be in your state
According To India Vote Kar
India made the biggest tax system reform in its history when it transitioned to the goods and service tax (GST) regime on Friday night. This is not only a change in the tax system, but this will also usher a big change in the federal system in the country. The states are giving up arguably much of their most important power: to impose taxes. So, on balance, will we, the people, be better off?
There seems to be a variety of taxation systems in place in several federal systems. For ex ..
Instead of one single GST rate, there will be several. A variety of goods and services will be taxed at different rates, reducing the simplicity that GST promises to bring with it. Also, adding complexity and cost is the requirement to register with both the central tax authority and state tax authority for each state a firm wants to do business in. This will certainly increase complexity.
Source : India Times
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