Thread by @Achintiyah

I am starting to write a thread on the benefits of GST.
#GstTransformsBharat

Some more advantages of GST.
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These are the Key Benefits from Macro economics point of view
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Let's continue this thread with other facts about GST
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These are Taxes that have been Subsumed / Replaced by GST.
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Just Imagine how many time you would have had to file returns under these various acts. Whilst under GST only Three returns needs to be filled.
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Most of theSe Taxes had Cascading effects meaning the Input Tax Credit under One Law cannot be used to set off under the Output Tax Liability of Another Law. GST has replaced these with Highly adjustable Input Tax Credit system.
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A Small example of how Input Tax Credit system works.
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Let's now Talk about the Structure of GST Law.
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This is the most easiest representation of the Structure of the GST law.
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Let's start talking about the Numbers.
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This is the amount of Taxes collected under GST for first four Months.
You can see there is a huge increase in Tax Collection under GST when Compared with the Tax Collection under VAT.
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For just for 9 months GST has resulted in a collection of ₹7.4 Lakh Crores.
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9 months GST collection numbers from another source - Month wise breakup.
Beauty of GST is in this chart you can see that the Average monthly Collection is 94k Crs.
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This is the State wise GST Collection list till Nov 17.
I see no reason why the State Government are crying GST is impacting their state revenue.
I request no politics when it comes to National Intrests
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Rejigging the same image again to clearly point out a nonsense theory that Compensation cess only on few products will make GST collection -ve and will pose danger to Gov Coffins
You can see GST Compensation collection are well ahead the Positive margins
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Now let's talk about the Integration of GST in #JammuandKashmir
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Best part about the GST is it is applicable to the Length and Breath of India including #JammuandKashmir
Which was not the case with the previous tax legislations including current Income Tax act
For the first time #JK was financially intergrated with India
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What I said above is actually very historic.
In India's History it's for the first time this state has actually contributed to our revenue.
Otherwise it's always a One way Drain.
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Now let's Tweet about the GST Council and it's importance.
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This is in short the functions of GST Council.
Remember, all the Rates and Taxes and Threshold limits are fixed by this council and not the Central Gov.
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This is how GST council is Constituted.
Union Finance Minister or his representative
One State Minister or his representative
This is how robust our GST Council is constituted.
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More in detail
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The Above tweets are very critical coz i am going to bring some truth to light.
For every decision regarding Rates, Tax & Limits needs to be unanimously accepted by all the members in the GST Council.
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So, why does The Opposition parties crib about High rates etc etc when they are the ones who approved the rates in the GST Council.
Expose these Hypocrites.
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This is extremely gutter level Politics by Opposition and Mahagathbandhan parties
In front of Media & Public criticise high Tax Slabs. But in the GST Council meeting Oppose it full might as their state revenue will be impacted
Link:
google.com/amp/s/www.indi…
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More articles on the specifics
opindia.com/2018/12/exclus…
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Now let's talk about GST Forms
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These are the different types of Forms and their due dates.
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Now tell me will any sane business man who was earlier made to file multiple forms under various acts be worried if he has to file just 3 inter related forms once a month.

Let's now talk about Tax Slabs and Tax Rates.
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This is a review of rates with previous laws at the time of rolling out of GST Law. We know since then only rates have been reduced and never increased.
You can see pretty much everything less than the prev levys

These are the list of items that are under 0% Category.
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The Percentage of Items in the diff slabs.
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Adding the dots on Composition scheme.
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I want to close this thread by asking one Question.
Such a good Structural Change had never moved between 2004 to 2014 why ?
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