#GST thread. Stay with me: This govt wont share real GST data. Instead we fall for its stupid press releases every month. They mean near zilch. This is what the central govt has really collected by August. Net of refunds and settlement - the only way GST nos should be read.
It is erroneous to merely compare total Rs 1 lakh per month target for states+centre with press releases which do not account for how IGST was settled each month. So, these cant tell what the Centre really got. This table shows how erratic IGST settlement has been.
Then you got to look at states and their revenue separately. Here is a chart of how state revenues are doing. After a year some are doing quite badly. Why? Ask.
Don’t worry about #Malaysia ’s #GST repeal, higher #Oil and sales tax will help. #ge14. The BN lost control of government. Dr. #MahathirMohamad stated that he will repeal the goods and services tax (GST) and replace it with the sales and services tax (SST). Why? @chedetofficial
#Najib passed the #GST to offset declining revenue as dependence on #oil backfired when oil prices collapsed. It's a tax on the final consumer & generates more tax revenue than the SST. In 2017, GST was 25% of the total tax revenue and 3.3% of GDP - key reason people are negative
But what's key is the rise of oil, which raises oil tax. So #GST becomes less key! Look at the relationship b/n oil and oil tax. Very strong! We assume oil rises to 73 (basically now) & 10% increase of subsidy, & SST revenue (less than GST). Let's look at what happens to fiscal
The #GST Should Never have Been Applied To ANYTHING, it only exists bc over 30 years of #Privatization of Public Assets that produced Revenue, the Revenue has Disappeared,on top of TaxCuts for Corporations & the removal of tariffs which had the
double wammy of sending manufacturing,textile industry,car manufacturing either offshore,broke or closed
#GST need to be removed From Everything
Corporations DONT Pay GST only Consumers pay GST
Introduce a #SugarTax on ALL Processed Food/Drink 20% per teaspoon(5g)of price,source of revenue &Healthier Population,long term Lower Health Budget
Raise Corporations Tax,Any #ProfitShifting
When Paid Media, Liberals & Commies are bought by opposition to defeat a successful leader Modi, it's time to sit back & see what Modi has done in this little time.Will this progress continue if we ignore him & let vultures come again? Pls read the thread below!👇 #WhyModiIn2019
Without bothering that his popularity will decline & his Govt might fall, He took this bold step. We all had inconvenience but everyone knew it was for the betterment of India. Country united in ATM Queues but the Corrupt screamed from rooftops #WhyModiIn2019
We had been hearing about GST since years but it wasn't possible to bring every state, business, Lok Sabha & Rajya Sabha agree on it! Jaitley & Modi made it possible. Businesses were down temporarily but now everyone is reaping benefits of 1 Country 1 Tax #WhyModiIn2019
I don't know about elections. But last week in Rajasthan - I have heard innumerable stories about small businessmen just wrapping up their companies. All impacted by #Demo and #GST. You guys can make a mockery of people's problems - but truth is people have been impacted.
My husband and I were in a car discussing GST and Modi along with Gujarat election - our driver suddenly says - Are Modi jee ko toh bas karna hai 'Mere Pyaare Bhaiyon aur behenon'. Madame humara mehendi ka business tha - band kar diya. Ab gaadi chala rahe hain.
My husband's cousin starts chatting up GST and how our company is handling filing. I gave him a lowdown on how we have hired a firm to manage.
He says - For TWENTY TWO days no business happened for us.