Goods and Services Tax or GST has now been implemented across India. Now, tax rates across India have become same. Different types of taxes have now become a history.
Well, I am not a financial expert. But, in general the implementation of GST will benefit common people a lot and hurt fraud people who are involved in financial crimes. After the implementation of GST, a lot of goods have become inexpensive, while the prices of some other commodities have gone up.
I personally believe that we need to wait and watch to feel the real impact of GST on Indian Economy. Some economists say GST will help India to improve its overall GST by 2-3%, other talk about its hazardous effect on the Economy. In general, it is going to befit common people as 80% items in GST have been within 18% rate.
India’s main opposition party congress and its pimps did not miss this historic event to play their dirty political game. They boycotted the inaugural ceremony of GST. It’s an interesting fact that GST bill was initially pushed by the congress itself. So, they are opposing their own bill. Great! Its height of foolishness.