While the Goods and Services Tax (GST) was launched on 1 July midnight amidst much pomp and celebration, they were interspersed with protests and confusion as to what exactly GST entailed. Despite being India's biggest tax reform since Independence, the public remains unaware of its effects.
Firstpost spoke to many in Mumbai to know what does the public know about GST - ranging from traders, businessmen to consumers - asking them about how they viewed the new law. While the measure is being billed as making doing business easier by simplifying the tax structure and ensuring greater compliance, businesses, particularly small traders, are nervous about the new tax filing system. Terming the GST a "good and simple tax", Prime Minister Narendra Modi said it will put an end to harassment of honest traders and small businesses while integrating the country into one market with one tax.
Published Date: Jul 03, 2017 07:30 pm | Updated Date: Jul 03, 2017 07:30 pm