GST of 35%
The proposed increase of the Goods and Services Tax (GST) on 150 items, including quality footwear, shoes, clothing, and more, to 35% requires a reevaluation of consumption patterns. If this policy is enacted, I would be forced to boycott purchases from branded stores and instead consider alternatives abroad, potentially sourcing from markets like Vietnam.
This increase will also impact millions of small business owners, as changing consumption patterns and higher taxes will likely reduce sales.
It is essential for the finance ministry to reconsider this direction, as such tax hikes could stifle consumption rather than boost economic activity. A more favorable approach would be to lower GST rates uniformly to 5% and 12%, instead of raising them to 18% and 35%.
Additionally, the principle of equity will be compromised if rates are raised to 35%. more
This increase will also impact millions of small business owners, as changing consumption patterns and higher taxes will likely reduce sales.
It is essential for the finance ministry to reconsider this direction, as such tax hikes could stifle consumption rather than boost economic activity. A more favorable approach would be to lower GST rates uniformly to 5% and 12%, instead of raising them to 18% and 35%.
Additionally, the principle of equity will be compromised if rates are raised to 35%. more
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35% GST on certain items is too high. As such people are paying 30% tax + surcharge on their Income and if Govt levies 35% GST, then it will be too much. Instead of this Petrol and Diesel must be brought under GST and thus give some relief to the common man. more
Dec 15
Slowly smart businessman will avoid manufacturing such items as a small no. of consumers will be ready to buy such products that may not be an economic sie. Govt. may reconsider such hasty decision. more
Dec 04
Due to the election, the government is so buoyed up that it has become reckless and have started taxing the people. Why did the people vote for them when they know the prices of all commodities will go up and everyone will profiteer. more
Dec 04
If this is so much a problem then these people should leave the country and go some other country and taste the democracy there. more
Dec 04
