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GST system needs complete overhauling
ActIT Jammu, ASP.net Projects, Java, Vb.net, C# Training Jammu
Dear Editor,

GST-implementation in its present form has caused severe hardships to middle-income traders with auditors, consultants and chartered-accountants having revised their fees manifolds. GST-system should be completely overhauled to make it user-friendly in a manner that people may voluntary declare actual incomes in a race of status-conscious society to get their names endorsed in the category of highest-paying Income-Tax. Initially GST-returns should be filed once in three months. Frequency of return-filing can be revised maximum once in a month at later-stage.

Best and only way to prevent tax-evasion and creating a tension-free regime is to impose GST on basic first point only, with distribution of share of states being done according to population and other aspects of different states. It will create a wonderful environment for tax and industry with everyone finding it convenient to adopt practice of voluntary tax-compliance resulting in tremendous increase in revenue-earning and prosperity of nation and people.

People force shopkeepers in the competitive market to give invoices without additives like GST, a system which is main cause of tax-evasion in the country. If levying of GST is only on first point with no tax-additive required to be levied at later stage, then traders will do away with practice of unaccounted paper-slips in trading as it is risky in all respects. However banking-system should be evolved so that share of different states may directly go to respective bank-accounts of states without centre having any authority to deduct any outstanding from any state.

GST rates are presently too many in numbers that too totally irrational. No country in the world has such confusing GST-system with so many tax-slabs. GST-rates should be 10, 30, 50, 100 and then in multiples of 100 percent with most commodities coming under 10-percent slab with no commodity except impractical ones left out from imposition of GST.

we1Irrational system of cess for commodities requiring taxation above present 28-percent slab will then not be required. People will not oppose minimum 10-percent slab because they will be relieved of much higher present 18-percent slab on most commodities. No commodity including even petroleum products should be out of purview of GST.

—Subhash Chandra Agrawal,

1775 Kucha Lattushah Dariba, Delhi.


News Updated at : Friday, August 11, 2017
 
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