With the landmark goods and services tax roll out on July 1, we are in the midst of mixed sentiments across the countrymen. While the FMCG sector has benefitted highly from GST, mobile payment services are facing the brunt of GST. While a few sectors have lucked out at the advent Of GST others have had to dive into troubled waters.
After BJP has assumed power, the agenda of Narendra Modi has been to alleviate poverty, flush out corruption and ensure maximum benefit to the poorest of the poor.
The NaMo kickstarted his agenda trail back on November 8, the historic date when NaMo demonetised the higher denomination currency notes of Rs 1000 and Rs 500. That step was followed up by GST rollout on July 1. If rumours are to be believed, the next step will most likely be in land acquisition or labor laws segment.
Over 1 lakh shell companies scrapped
Post BJP, dodgy companies were scrapped down. Those companies in which transfers have been made after demonetisation, but no GST registration took place for the same have been stricken off. Close to 1 lakh shell companies have been scrapped as one of the GST advantages.
Offline convenience for GST users
The GST team has produced a simple process for all firms and companies registered under the GST. An Excel-based sheet was introduced which can further be loaded onto the GST software.
While we are already aware of how GST will affect our everyday lives, which services will become costlier and which goods will become cheaper?
CM Raje took necessary steps ahead of GST rollout
Ahead of the GST rollout, Rajasthan Chief Minister Vasundhara Raje reflected on the importance of GST as she said it is necessary to understand it comprehensively. In this regard, she also directed Finance Department officials to make general public and traders aware about the new system and organize training workshops for the district collectors and other officers of concerned departments.
