At the midnight stroke of 30th June- 1st July 2017 India's clarion call to usher new era of inclusive,transparent,simplified and effective economy will be heard throughout the nation.
Goods and Services Tax (GST) will completely overhaul the taxation structure of the country for good, the
outgoing taxing infrastructure embodied myriad loopholes which were
costing the country dearly not only in form of unaccounted wealth but
also in dismantling the confidence of honest taxpayers in the
administration's efficacy.
Those
evading the attention of Tax Compliant authorities and carrying out
theirs sinister businesses unhindered will find it hard to digest the
reality of there being no such avenue in GST regime as in order to claim credit one needs to upload invoice bills and in order to do so one must be registered under GSTN. Moreover, by inclusion of taxation infrastructure the unnecessary expenditures can be effectively tapped.
To sum up, by maintaining trio equilibrium of democracy, federalism
and union India is slowly embracing the path of development unprecedented in
the world and only the meager outlook will fail to judge the rising
superpower of tomorrow.
वंदे मातरम्
जय हिंद।
