GST myths versus facts

Issued by GOI today attached more  

GST rates should be reasonable. GST should not be there for cooperative housing societies where the amounts increase above Rs.7500/- per month as they do not do business. GST should not be levied at 18% on medical hospitalization policies for senior citizens who are as it is burdened by income. No benefits/credits should be given to to GST holders. It will solve the problems. Any defaulter should be severely punished. Because punishment is so lax, Indians take advantage of it. more  
1) I agree that Government has not proposed serious punishment so far. But this is in order to come forward the tax payers for registration of GST, and pay the GST. However, some of the tax payers are in habit of evading the tax, and considerable time has been given to them and also Govt is badly in need of revenue due to corona and war like position on borders; it is high time to be strict and to punish the culprits heavily
2) It is a compulsion of Govt. to make GST rules and notification with many provisos, others law is misinterpreted by legal experts and tax is evaded legally.
3) As discussed by Local Circle earlier in last month, the input credit facility for the goods and services provided Locally (In India), may be stopped. And new GST rates without credit may be prescribed
4) Apart from above it is seen that State Governments are getting half of the share of GST directly, they have sales tax deptt converted into SGST Deptt. But I have never heard that any State has booked a case against evader, why the sate is not active to get more revenue and depended on Central to book the evaders. more  
The system has to be not only simple but affordable too. Secondly, breach of system must attract serious punishment without any biased hearing. more  
The more a system is complex, more will be the opportunities to misuse it. Wish we see a day when the government of the day prioritizes simple but effective systems. more  
Post a Comment

Related Posts

    • Buying a suv in India is 50% giving tax

      What's the most taxed product in India? It's not cigarettes, a can of aerated beverage or a bottle of whisky or beer. It's an AUTOMOBILE. It attracts the highest GST rate of 28% & a cess o...

      By Sunita Varghese
      /
    • Request for cancellation of GST registration pending since November 2020

      I had submitted request for cancellation of registration on 11th November 20 using GST portal. The local officer sent me a notice suggesting change in the date of cancellation. I filed clarificatio...

      By Shrikant Kulkarni
      /
    • Tax Contributions

      Biggest myth in India is that the country survives & flourishes ONLY on Middle Class income tax. The fact is that largest revenue generation in India is done thru GST & corporate tax ~ 59%....

      By Sudesh Rai
      /
    • Issue Press Release and Publish Photos of corrupt CBIC and CBDT Officers.

      Several CBIC and CBDT officers, which should be renamed as Central Board of Direct Rxtortion have been publishing names of CAs and their involvement in fake credit. Wheras all cityzens appreciates ...

      By SUBHASH PARAKH
      /
    • GST on online music class

      I plan to start online music classes that will be delivered by prerecorded videos. My turnover will be below the limit of 20 lacs/annum. Do i need to register for GST. Appreciate your input on this...

      By Ram N
      /
    • Garbage burning rampant in Noida

      these are the pics from Noida Sector 120 where garbage is being dumped and burnt by some miscreants and a friend sent thes. This is happening from past 1 month and nothing has been done to stop thi...

      By Sudesh Rai
      /
    • Verify suppliers GST friends

      Whether u are taking services at a personal level or for your business, verify the vendors gst. There is still many vendors who give a gst invoice (generally non printer one) which has a gst number...

      By Sudesh Rai
      /
    • GST should be applicable only when builder pay commssion to real estate consultants.

      Gst should be only applicable to Real estate consultant only when the builders pay commssion to associate. It is big problem for real estate consultants to submit bill and pay gst in advance witho...

      By Anonymous Circle member
      /
    • GST Cancellation and Company Registration No

      If I cancel my GST no, will I have to surrender my company's registration no as well?

      By Neeru Sood
      /
    • GST update

      Now, Businesses with an annual turnover of up to Rs 40 lakh are GST exempt. Initially, this limit was Rs 20 lakh. Additionally, those with a turnover up to Rs 1.5 crore can opt for the Composition ...

      By Sudesh Rai
      /
Share
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)