According to the finance minister Arun Jaitley, GST (Goods and Services Tax) will turn out to be a win win deal as it will completely demonish the “inspector raj” and will expand tax net which will lower the prices of goods.
At BJP parliamentary party which was attended by prime minister Narendra Modi and other leaders, Arun Jaitley said since the roll out of GST on 1st July 2017 prices of goods has decreased between 4-8 percent.
Arun Jaitley also added that GST is for the development of our whole country as it will increase our revenue by 80%. There is no more tax on transport of goods across the country it has become cheaper and quicker for transport companies to deliver their goods.
Due to GST, around 1 crore companies will follow the new tax system as earlier compared to 80 lakh companies. GST has expanded the tax net which has made country’s market even more integrated. It has also decreased the tax burden on Indian people. It will also improve the image of tax department in India. It is indeed a win win deal for everyone.
