BJP is going to launch the GST tonight and everybody is afraid about this biggest tax reform which is going to change the life of crores of people in India. Till now nobody is having a clear idea about GST. Whether it will be good for the public or not. The traders are very afraid and in angry mood. The Congress party has completely boycotted the launch and will not attend it tonight.
Celebrities like Amitabh Bacchan, Lata Mangeshkar and Ratan TATA would be attending the launch of GST.
According to BJP this biggest tax reform in last 70 year will boost the tax payment system and simplify the businesses. But according to the experts the true impact will be seen in over a decade and immediate effects will attract negativity from the tax payers and business houses. Its implementation is also one of the biggest challenge which will take its own time and meanwhile tax evaders will find some loopholes in the system to crack the GST.
Several chartered accountants have already started speculating about the GST and starting pitching customer about it effects and how to go about it.
One thing is for sure that like demonetization GST will also bring lots of challenge for the Government and god knows when the Government will change it may again be challenged in the Parliament and changes made.
Everybody is thinking about the long-term benefits of GST and no one is thinking about the short term disadvantages. In the current system all the tax paid by the tax payers is not used fully and it is not even utilized properly and large chunk just goes into vain.
Let us hope that GST will be good for everyone and the tax will be used for the betterment of the public and not for the politicians.