It has been four years since the GST has been implemented and the finance ministry has shared several tweets confessing that it has been beneficial for the taxpayers and lots of beneficiaries. The Finance Ministry has already confirmed that so far 66 plus crores have been filed and even the reduced tax prices have helped a lot in increased compliance. 


Before GST, Restaurants charged 21% tax and after the implementation, only 5% tax is being charged. Similarly, 30% taxes on Detergent, Shampoo, Coffee, Toothpaste have been reduced to just 18%. The tag "One Nation One Tax" has definitely transformed the Nation in a big manner. This GST is definitely a game-changing tax reformation. 


Also due to the implementation, there is simplicity and transparency in the tax-paying system. Also, GST has definitely improved the ease of living by bringing down the tax on lots of items. Many things such as electronic items, food restaurants, housing are now easily affordable than they were before the implementation of GST. The structure of this GST has been completely transparent. And of course this implementation of GST has helped both the consumer and also the taxpayer as it helps both the parties.
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SIBY JEYYA

01/07/2021 08:00 AM