The much-hyped one tax regime  GST also seems to be going the Demonetization way.The reason why demonetization was brought in was to swipe out black money but according to the reports from RBI, it looks like a flop.But Arun Jaitley said that it was mainly done to increase digital transactions.But it looks  Traders and Shop owners are back to their same old ways of Zero Business with liquid cash transactions.

Image result for gst

Almost all right from medical shops to big ones  are offering Zero tax on cash payments to the customers and charge GST only on digital transactions  Card Payments.

Image result for gst

So this encourages people to do more of cash transactions to escape from taxes. Some commercial establishments have even made some  changes tactically to their software to give a printed bill in  the customers hand but the transactions will not be saved in their database. In such cases, they are charge GST from the customers but  the government is cheated . In wholesale markets, the losses have crossed crores each day. Looks like GST may also end up as a utter  failure for the government just like the Demonetization.


మరింత సమాచారం తెలుసుకోండి: