The C Times, 30 June 2017, Agartala: India is going to launch biggest ever tax reform GST from the 1st July 2017. People of India are hoping that it will create a positive impact in the India economy. The government has taken this initiative only to increase the financial strength of the India. The structure of GST is developed thinking about the each and every people of India. PM of India said that he is very thankful to the people of the nation for cooperation in this reform.
It is around 12 hours left, GST to come into effect but it has been facing many positive and negative comments for its complex design and structure. But this tax reform is the biggest since after the independence and claiming that it will enlighten the fortune of common people of India and also boost the revenue of government.
Delhi: An automobile parts shop owner RakeshSachdeva who sells parts in the market of central Delhi which is just a few minutes away from the PM office had said that “Party’s over” for millions.
He has been running this business for many years in the same market. His business going well but he never paid a single rupee of tax. Due to his small premises and operation, his business has not come on the radar of the tax officers of India. But the owner Mr.RakeshSachdeva said that “the party will be over” from the month July as GST will come into effect.
Every business man like Rakeshji will come in the tax net from the month July. This will increase the revenue and also minimize corruption.Every people those are running a business have to submit their invoices monthly which need to be matched with all your suppliers and vendors.Rakeshji said that “I have no option, but to register with the new system”.