Some of you might not agree with the headline, but it’s a clear fact that GST has created a benchmark as a new taxation system, dissolving all the other former taxes. A year after the introduction of GST in India, it has now gained a status of ‘well-received’ and ‘sensible’. Although a huge Indian population has already registered under the GST Act, the tax game is not a complete victory yet.
There are still some people left in the society who are unable to cope up with the GST. And with ‘people’, we are not referring or talking about the illiterate population of the country. Unfortunately, the literates are also going through the same problem besides the fact of being capable to learn and write. In this blog, we will discuss the implementation of GST, its necessity, impact, and the presence of online mediums providing overall GST assistance. If you read the blog completely then things about GST might become much easier for you to understand.
Implementation of GST
After years of tax counsel and government discussions, meetings, and presentations, GST came into effect on July 1st, 2017. But what was the need to change the old taxation system? The old system of collecting taxes from the people consisted of multiple taxes. You must remember paying for food, fuel, etc. and receiving a bill receipt having multiple deductions such as service tax, VAT, excise duty and more, irrespective of the original cost. So what the government is doing here is removing the negative effects of taxation for the ease of the people. You can create a clear distinction now between old and new taxation system.
Basically, the GST removes the cascading effects of the old regime on tax collection. Previously, the public, in general, wasn’t completely aware of the percentage of the amount that they were charged for, and that too in different proportions and categories. With GST, you get the broader structure of tax collection crystal clear, based on the destination of the good or service that you provide or receive. Although you might not be having a clear-head with the internal aspects of GST, you sure will nod ‘yes’ when asked about the transparency of the GST. Won’t you?
Read Also: A complete guide to GST Calculation in India
FYI, the impact of GST on the people is commendable. Our government thought of a different approach to collect the tax. The more business enters and adopts the new tax regime, the more predictable the tax policy becomes. Your business could become stagnant for a short time period, but it will gain an ultimate hike in the growth. At this point, we can say that whether it was for the fear of losing business or to praise the government, people have shown a huge interest in the new regime. The GST impacts everyday life. So, before neglecting GST, everyone asks himself that how much can I risk? And this might explain the overall impact that GST has created so far.
Online platforms for GST assistance
We always talk about the loopholes of the government but our appreciation for the steps taken by our law-makers is less. The contradiction is not always good. Sometimes, all you need is to accept. And to accept the GST, numerous companies are working really hard to provide people assistance on GST and clear all their doubts. If you accept the system, then the help is just a click away with complete authentication and reliability.
By taking the online assistance for GST you can:
- Apply for GST number
- Get you returns filed
- Know in detail about exemption and new policies
- Get a reminder of the tax filing dates
- Easily get your overall tax calculated
So we get to the point that GST is not that bad. It’s like running into a strange person and making a completely different image about him irrespective of the person’s original personality. The bottom line is that the process takes time. And to fit into the system, you must adopt it. Register yourself under GST and help the government with its initiative. Go easy. Go GST.