GST: ‘Tax’ing times for the industry
The tourism and hospitality industry had pinned its hopes on a single and simpler tax structure, transparency in the payment systems ems and ease of business with the implementation of the Goods and nd Services Tax (GST) bill. Were their hopes met? To find out,
asked the industry. The expectation of a simpler tax structure has not been met as 73% said that the new regime complicated the tax structure further. However, 18% voted that t with GST there was an increased transparency in payments. A mere 9% claimed that GST resulted in a reduction in tax evasion, in turn benefitting their business.
(A) Increased transparency in payments 18% (A) 73% (C) 9% (B) (B) Reduced tax evasion, in turn benefitting business (C) Complicated the tax structure further