GST-PAIN NOW AND GAIN LATER –LOOKS PERMANENT PAIN FOR MSME AND GAIN FOR ORGANISED SECTOR?

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By admin November 3, 2017 15:32

GST-PAIN NOW AND GAIN LATER –LOOKS PERMANENT PAIN FOR MSME AND GAIN FOR ORGANISED SECTOR?

Indian economy gdp is built by service, manufacturing and agriculture, traditionaly agriculture is maintained tax free yet the sector needs good amount of financial support. With aim to reform taxation gst has been introduced from ist july 2017. Whereas long term benefits as improved tax collection will lead to higher tax collection and government will have opportunity to invest in development and improve public services directed towards the physical and social infrastructure required to enhance long term growth.

Strengthening domestic resource mobilization is not just a question of raising revenue: It is also about designing a revenue system that promotes inclusiveness, encourages good governance, improves accountability of governments to their citizens, and cultivates social justice. Revenue system design and delivery is also closely
linked to domestic and international investment decisions, including in terms of transparency, anti-corruption and fairness, as it may serve to improve the framework for attracting increased private investment.

Global economy linkage and business enviroment influence indian business. Gst with aim to rationalize tax throughout the country and for all business activities has limitation and yet to find acceptance as it is difficult to equalize unequals. Indian government has position itself in way that the scope to rationalise expenses has evapourated rather more and more funds are required to keep the economy into high gear to create employment. India as country with its current earning is likely to be if not already a overtaxed society. Plus. Central, state and local authorites have expanded tax net and all business and service sector

admin
By admin November 3, 2017 15:32
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