India, say Hi to GST
June 30, 2017 6:40pm CST
France was the world’s first country to implement GST Law in the year 1954. Since then, 159 other countries have adopted the GST Law in some form or other. In many countries, VAT is the substitute for GST, but unlike the Indian VAT system, these countries have a single VAT tax which fulfills the same purpose as GST. In India, the discussion on GST Law was flagged off in the year 2000, when the then Prime Minister Atal Bihari Vajpayee brought the issue to the table. Now finally GST is launched in a big way from 1st July 2017 in India :)
7 people like this
• Mumbai, India
3 Jul 17
I think this is good move. We will have to wait till 3-4 months atleast to know its implications. Hope it does not impact our online earning(s). Secondly people who are working class (salaried) would have to bear the burnt indirectly as always, either in terms of HR & Finance policy changes or direct impact in the CTC.
1 Jul 17
I was watching the activities in Parliament as live but in the middle I slept so I don't know what happened then. I only heard the speech of our finance minister. It is amazing to see the representatives in parliament in the midnight. The announcement was at 12 in midnight. Have you watched the same in TV.
1 Jul 17
Whenever something new is introduced in India, opposition to it is a must. I think they go hand in hand. But this is important for the greater good. Hopefully, all the people who have a problem will discuss the issues and come to a proper conclusion.
2 Jul 17
Yes I too have been following the introduction of GST. I did some buying and purchasing yesterday. I saw the GSTN number on the bills. Also, the GST is split between centre and state- CGSTN- for centre and SGSTN- for states. I will see if I can share an image later. Initially there are hiccups but later on, this will give a lot of benefits.