#RejectingWorldBankGSTReport on India
The World Bank Report on India Development Protected content Indian GST to be one of the Most Complex GST Systems worldwide. The Report is "Silent" in terms of comparison with the Earlier Multiple Indirect Tax Systems that were far more complex including HUGE cascading effect that was bleeding the Indian businesses and consumers to inflation on 24/7 basis.
With introduction of GST in India, the reality is, a lot of hardship has been done away with and the taxation system in the country has been cleansed to a very great level. #OneCountryOneTax is actually a reality. #DigitalIndia has further lead to ease of operations in terms of Registering, Tracking, Filing etc under GST.
The need of the hour is to spread awareness among the larger groups who do not even understand anything about GST and also to check the false notion being spread by Professionals regarding complexities of GST in order to keep their positions & services valued higher in the market.
The best example to be quoted here is #HIndustanUnilever paying INR. Protected content till date to the #GoI as #GSTBenefitTransfer post eradication of cascading indirect taxes and implementation of GST.
I am sure there would difference of opinion in terms of hiccups faced during the GST Implementation process, however, in a nation of 1.3 Billion people, these are just minor teething problems. Today the GST Network is far more stable in comparison to a few months back.
Everyone is welcome to Like Share Comment with your take and opinion...Cheers...!