GST
already we are blocking the working capital by paying the advance GST for all imports, to get back from the market it takes minimum of 5 to 6 months. If further increase all small scale industries will be closed permanently. more
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It's been in the news lately that the government mulls over increasing GST rates, and there's talk of minimum 5% along the board.
It appears that the bench making such drastic decisions have little knowledge of human psyche. Smaller increments from time to time would not attract so much attention and ire of the consumer community as a jump of 5% in one go. Germany started with a GST of 2% and after two decades they are around 20% or more. One hears a similar story about Singapore.
The Law of Economics and the Law of Human Psyche are different ball games. Trying to fill State coffers in a short period of time cannot help lift sagging economies. It's generally on the contrary, and does not earn public support but only their wrath. more
It appears that the bench making such drastic decisions have little knowledge of human psyche. Smaller increments from time to time would not attract so much attention and ire of the consumer community as a jump of 5% in one go. Germany started with a GST of 2% and after two decades they are around 20% or more. One hears a similar story about Singapore.
The Law of Economics and the Law of Human Psyche are different ball games. Trying to fill State coffers in a short period of time cannot help lift sagging economies. It's generally on the contrary, and does not earn public support but only their wrath. more
Dec 12
There is no need in increase GST, but rationalise GST, according the need of the people. more
Dec 11
Majority of the products presently on 5% GST bracket were attracting higher rates at the initial stage of GST and gradually brought down. And the logic that if the rate in some cases is now increased negligibly, how will it result in closing down all the small scale industries for ever, is not clear. Moreover, do all our small scale industries depend on imported items & raw materials to function? Expression of unfounded fears only creates despair in the society. more
Dec 10
there is no doubt in this that MSME will get financial strangulation. GOVT must give better "no" best alternative for such MSME Imports. or these MSME will get in to financial sickness before stat up and stand up in business . more
Dec 10
