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NotMyRealName
I'm sure all this legal looting in the guise of taxes and fuel price hikes is just to accumulate as much cash as possible till the next elections, when they have to hand it back to congress...
GST and its impact on YOU!
- Thread starter swatkats
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Money is collected in 'sarkari khazana' to release them to contractors+middlemen in the guise of 'development work' / 'sarkari kaam' and collect commissions on that.
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NotMyRealName
His comments in the ABC documentary investigating the coal mine fiasco were really insightful too. This is a good book - shows the current state of our 'democracy'.
Hades.
Galvanizer
Plus why isnt Gasoline and Liquour not already under GST? Not having them under GST, a great way for making money government?
Plus you illiterate people just made living hell out of people lives by introducing GST.
You decreased the GST from 18% to 5% on restaurants. Now the restuarants have increased the price of the products to sell them at the same price they were selling when they were charging 18% GST to consumers.
Are you aware that big food chain restaurants like McDonalds have increased the price of the products? Or the bribe has already reached you guys to allow them to do that.
This is the phoniest government i have seen in my entire life, the previous government was well known for scams but was atleast better.
These a-holes just gave a reason to the restaurant owners to increase the inflation.
Whenever i go to a mall, i cannot see a product whoz price has decreased after the introduction of GST even if the product falls under 5% tax bracket.
Acche din humne dekh liye, ab bas, hum aur nahi dekh sakte.
Modi you can continue with your tours and travel business.
Plus you illiterate people just made living hell out of people lives by introducing GST.
You decreased the GST from 18% to 5% on restaurants. Now the restuarants have increased the price of the products to sell them at the same price they were selling when they were charging 18% GST to consumers.
Are you aware that big food chain restaurants like McDonalds have increased the price of the products? Or the bribe has already reached you guys to allow them to do that.
This is the phoniest government i have seen in my entire life, the previous government was well known for scams but was atleast better.
These a-holes just gave a reason to the restaurant owners to increase the inflation.
Whenever i go to a mall, i cannot see a product whoz price has decreased after the introduction of GST even if the product falls under 5% tax bracket.
Acche din humne dekh liye, ab bas, hum aur nahi dekh sakte.
Modi you can continue with your tours and travel business.
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Hades.
Galvanizer
Nope, i just want them to do atleast once in their lifetime that they promised that they would do and thats take action against the restaurants whoz not passing on the GST benefits to customers.
Problem isn't Mcdonalds. They will have lots of checks and processes to pull something shady like that. It's the local restaurants who were claiming Input Credit Tax and not passing on the benefits to the customers. They just saw it as another money making scheme. Now that the govt has reduced GST to 5% and removed the input credit for them they've raised the prices to match the 18% rate otherwise they would have then been accused of profiteering.
Hades.
Galvanizer
I just read an article stating that, companies werent ready to pass on the benefits even when they were given input tax credit so they thought of getting rid of it once and for all.
The thing is, i haven't seen the price of a particular product being reduced even when it falls under 5%GST bracket.
At 5% GST what kind of input credit are restaurants really expecting? They dont want to pay any indirect tax at all?
Should we also stop paying GST aswell when we go to any restaurant as we are already paying income tax?
Anyways they dont pay GST, its the consumers who pay GST for whatever product they buy.
The thing is, i haven't seen the price of a particular product being reduced even when it falls under 5%GST bracket.
At 5% GST what kind of input credit are restaurants really expecting? They dont want to pay any indirect tax at all?
Should we also stop paying GST aswell when we go to any restaurant as we are already paying income tax?
Anyways they dont pay GST, its the consumers who pay GST for whatever product they buy.
Input credit tax has been removed for restaurants.
What does GST have to do with Income tax?
Hades.
Galvanizer
Input tax credit was introduced so that people dont end up paying GST multiple times.
Input tax credit is for the people who pay GST to get raw material to create their product to sell in the market.
So restaurants, they dont want to pay tax on raw material that they use to make dishes.
So the same way, should we stop paying GST on every product that we buy as we are already paying income tax to the government?
I was looking at an invoice a shopkeeper got. Seems like after GST, everyone ends up paying double tax on taxable amount - once for CGST and another for SGST. So if taxable amount is 500 rupees and GST is 9%, the shopkeeper would pay 9% tax two times and total bill will become 500+ 9%+ 9% = 500 + 45 + 45 = 590.
Even banks GST charges for GST show the same double taxation. No wonder everyone is feeling the pinch.
Even banks GST charges for GST show the same double taxation. No wonder everyone is feeling the pinch.
Its not double taxation, its the share of state and central GST, ie 5% GST is billed as 2.5+2.5 for intra state, and 5% IGST interstate.
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NotMyRealName
If for example, cgst+sgst is 9+9, then the item falls in the 18% slab.
Party Monger
Juggernaut
Its not double taxation, its just a very RETARDED implimentation. They could have just done the bifurcation on their side, but nooo.
I work in GST and I am literally marvelling at how stupid the whole system is. Imagine having to matching each invoice and the labour and costs involved in it.
Someone needs to go and talk some sense into Vodafone - their GST system is shitty compared to Airtel
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