GST myths versus facts
Issued by GOI today attached more
Viewed by 482
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
Dec 27
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
Dec 25
The system has to be not only simple but affordable too. Secondly, breach of system must attract serious punishment without any biased hearing. more
Dec 25
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
Dec 24
