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Economics of machining - 16 - Indirect and direct expenses - Part B (in hindi)
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Prakhar Shrivastava
INDUSTRIAL AND PRODUCTION | IIT B | NITIE | GATE - 2016 ( AIR -03, SCORE - 939/1000) |Tennis | Street plays | Foodie

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Goods and service tax(GST) system is a biggest reforms of India taxation regime but there are several concerns regarding various issues by trade unions. 1.GST system has been roll out for one tax one nation but certainly there are multiple rates that are being levied under it like 5%,12%,18% and 28%. 2.The tax collected under GST has been distributed under various sections comprising central goods and services tax( CGST),state goods and services tax (SGST) and Integrated goods and services tax(IGST) which further complicates the tax process. 3.There is further an ambiguity about e-way bill which governmenthad taken back recently. In certain products like liquor,petrol,tobacco the GST systemwill not be implemented on them which do away with definition of one nation one tax. Although there are various uncertainties and worries about the new economic reforms but the GST system will cater the path of socio-economic development in India in its long term and briefly address the challlenge in the near future.