MYTHS & FACTS

Just days into the GST im­ple­men­ta­tion, confusion reigned supreme. Con­sumers and busi­nesses were bom­barded with mes­sages on so­cial me­dia about dou­ble tax­a­tion on pay­ments made us­ing credit cards. The Goods and Ser­vices Tax (GST) re­form fi­nally im­ple­mented

Shoes & Accessories - - Contents -

In the larger scheme of things, one must re­al­ize this is an in­cre­men­tal re­form. We can­not change the en­tire sys­tem in one shot. And even this in­cre­men­tal change has many hur­dles. It is a tran­si­tory process, which would take a few years to man­i­fest com­pletely, dur­ing which finer points can be tin­kered with, to move to­wards the Ideal GST. An­other key take-away from how GST has been han­dled by the Modi Govern­ment is that it over­whelm­ingly wants to make states an equal stake­holder in the na­tion build­ing process and this is one of the many threads they have started to en­sure states par­tic­i­pate and be­come ac­count­able. This must be ap­pre­ci­ated.

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