The GST has been a boon at least for the truckers as earlier they were all lined up at various nakas filling the forms and Photostatting the receipts. Lot of black marketing was in progress. However, with E-way bill in progress that thing is a past and we saw a video floating on social media by a trucker where he was all praise for GST implementation.
The impact of the GST points undertaken in 32nd meet is that small retail traders may not be happy with the hike of GST limit as they will not be able to get the input tax credit. Real Estate may require more sops to get the sector moving as cement still happens to be in the highest category slab which is a major component in construction activity.
However, composition scheme amount being raised is a welcome step and service providers can also heave a sigh of relief. Overall it is a step in the right direction and who knows in times to come we may have only 5%,12% and 18% GST with 28% GST being totally removed.
A number of times people ask that why GST not levied on petrol and diesel and answer lies here which you can find by clicking the link.
The impact of the GST points undertaken in 32nd meet is that small retail traders may not be happy with the hike of GST limit as they will not be able to get the input tax credit. Real Estate may require more sops to get the sector moving as cement still happens to be in the highest category slab which is a major component in construction activity.
However, composition scheme amount being raised is a welcome step and service providers can also heave a sigh of relief. Overall it is a step in the right direction and who knows in times to come we may have only 5%,12% and 18% GST with 28% GST being totally removed.
A number of times people ask that why GST not levied on petrol and diesel and answer lies here which you can find by clicking the link.
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