Dear you (Anyone who is reading this 10 years down the line and specially to those who are born in the era of Goods and Services Tax - GST),
I am reading about GST in newspaper since past two years and knowing about GST much before that. So, I feel highly connected to GST. The present incumbent government at centre was fighting tooth and nail to get the bill passed. This Bill was stuck in the Rajya Sabha because the government lacks majority there. In short GST will bring an uniform rate of taxation in India in Goods and Services which is right now subject to both state and centre taxation. Few goods are taxed at more than 60% rate and few at mere 4%. 10 years down the line you might found it absurd thinking why before we didn't have a X% of uniform taxation on all goods and services. But...but..but..you may be happy thinking thanks to GST we have an uniform rate, if you are informed and excited like me.
I was so excited that I was glued to the proceedings of Rajya Sabha when the bill was discussed and proposed to be passed after the All Party Meet decided and backed the bill. My excitement on 3rd August 2016 the date on which Rajya Sabha passed it was so much that I was quite distracted from my studies. Knowing that I have the most important exam of my life 4 days after. I felt happy when I saw the electronic voting result screen indicating the bill is passed around 9:40 pm. Yes, Parliament can really work so late.
The Bill discussion in the Rajya Sabha was what we call "Intellect's Debate". Parliamentarians digging and praising each other. Finance Minister Mr. Jaitley's debate with former Finance Minister Mr. Chidambaram was worth listening.
I felt elate and waiting for its being implemented from next financial year. The Bill is a constitutional amendment Bill hence it has to be approved from half of the states.
Kids (Anyone who is nascent in world, 10 years down the line and knows only GST is something) do you see any change in the tax system? Do you see a high consensus in Parliament always? Today I have some decent understanding of tax system and reading myself this article 10 years down the line I will more easily see the differences. I bet it !!!
Jai Hind, Jai Bharat!!
I am reading about GST in newspaper since past two years and knowing about GST much before that. So, I feel highly connected to GST. The present incumbent government at centre was fighting tooth and nail to get the bill passed. This Bill was stuck in the Rajya Sabha because the government lacks majority there. In short GST will bring an uniform rate of taxation in India in Goods and Services which is right now subject to both state and centre taxation. Few goods are taxed at more than 60% rate and few at mere 4%. 10 years down the line you might found it absurd thinking why before we didn't have a X% of uniform taxation on all goods and services. But...but..but..you may be happy thinking thanks to GST we have an uniform rate, if you are informed and excited like me.
I was so excited that I was glued to the proceedings of Rajya Sabha when the bill was discussed and proposed to be passed after the All Party Meet decided and backed the bill. My excitement on 3rd August 2016 the date on which Rajya Sabha passed it was so much that I was quite distracted from my studies. Knowing that I have the most important exam of my life 4 days after. I felt happy when I saw the electronic voting result screen indicating the bill is passed around 9:40 pm. Yes, Parliament can really work so late.
The Bill discussion in the Rajya Sabha was what we call "Intellect's Debate". Parliamentarians digging and praising each other. Finance Minister Mr. Jaitley's debate with former Finance Minister Mr. Chidambaram was worth listening.
Finally the Bill's main hurdle was cleared. I thought is it a big thing for me only or for my fellow informed citizens also? The National Media covered it with great pomp and show. But to stand unbiased I will add the 39 seconds coverage of state media.
Finally the wait for Lok Sabha was not long. Today at 8th August 2016 on the 75th Anniversary of Quit India Movement the Bill was approved by Lok Sabha too.
Kids (Anyone who is nascent in world, 10 years down the line and knows only GST is something) do you see any change in the tax system? Do you see a high consensus in Parliament always? Today I have some decent understanding of tax system and reading myself this article 10 years down the line I will more easily see the differences. I bet it !!!
Jai Hind, Jai Bharat!!
