Wednesday, 25th April, 2018

GST seems to be tool for rate hike

23, Nov 2017 By shakeel ahmad

KANPUR: The bottom line is the shadow of ‘Gabber Singh Tax’ looms large at every item in the market. Whatever we buy soon gets attached to the fresh goods and services tax. Whether the common public understands the tax is as much mysterious as the historicity of Rani Padmavati. Though there continue conflicts over the direction of the new tax regime, the government looks upon the tax structure moving in the right direction. The government directs manufacturers to reduce the tax but actual advantage seems a far cry. How long will the consumers suffer?

It is more than seven hundred years after Alauddin Khilji came into the heated debate over a film. If his rule brought market reforms and controlled the prices, what controls perfection through the present-day tax structure. According to the reports, the revenue collected under the new tax regime was Rs 95,131 crore in October and an average revenue shortfall of states has come down to 17.6 percent. The National Anti-profiteering Authority under GST has been created to ensure benefits of reduction with immediate effect. Is there any result effectively reaching us?

There would be a poor man’s rate of 0 percent to 5 percent and a core rate of between 12 percent and 18 percent combination, the demerit rate of 28 percent will always remain. India will never move to single Goods & Services Tax rate. The Congress Party has made the tax a central part of its poll campaigning in Gujarat. For now, the humorous rhymesters on TV news channel were making fun of the present tax regime that attains the severe disdain like the medieval period Khilji Sultan. Point is—the consumer pays an additional amount for a change of even the simple specs’ glass. It appears as if the retailers have been hiking rates in the name of the new tax structure.