The GST Bill, which is causing a huge number of problems for the BJP and is a bone of contention between the Government and the Opposition, is a bill whose importance needs to be emphasised upon. The GST Bill, simply put, is a bill that will ensure that only one tax is levied on Goods and Services so that the common man does not have to pay multiple bills to both the State and the Central Government. In effect, one centralised tax levied on a certain good, or service will ensure that the cost of this good will be reduced.
The April 1 deadline for rolling out GST will not be met "even if the trinity of Gods - Brahma, Vishnu and Mahesh - descend on earth", as the government has not yet completed the preparatory work for the new indirect tax regime, Congress leader Anand Sharma said today.
"Even if the Prime Minister and leader of the opposition have a duet together and all of us work overtime, the so called April 1 (2016 deadline) cannot be achieved," he said at the industry body Ficci's AGM.
"In our methodology we talk about Brahma, Vishnu and Mahesh. Even if the three (Gods) come together, (we require) 50 per cent states ratification, three more laws (State GST, Centre GST and IGST) to be enacted," he added.
the promise of Acche Din of the BJP’s campaign and the PM’s promise that the Indian Taxpayer’s load should be decreased. The understanding here is simple: by levying a centralised tax instead of multi-tiered tax, the cost of all products will reduce and the economic pressure on the Indian Taxpayer will reduce.
The corruption of the Congress Govt, and their unstable economic policy, created no doubt to increase the profits of those vested interests whose economy thrived on the looting the taxpayers, is responsible for a vast deficit and the slowing economy. The multi-tiered taxation system is quite frankly, choking the economy.