TomorrowMakers

After a lot of back and forth, the Rajya Sabha finally passed the Goods and Services Tax (GST) bill on 3rd of August, 2016.

After a lot of back and forth, the Rajya Sabha finally passed the Goods and Services Tax (GST) bill on 3rd of August, 2016. Often followed by the unofficial tagline “one nation, one tax”, GST will subsume all indirect taxes s­­uch as excise duties, service tax, entertainment tax etc. Adopting GST will lead to a seamless market throughout the country, and prices of comodties evening out across states. In case you aren’t well versed with the concept, here is GST 101: What India’s biggest tax reform means for you

What started with mixed reviews…

…has finally boiled down to mostly positive comments and celebratory social media posts. Whereas most of the tweets and facebook statuses are rejoicing the verdict, a few alsotalk about its impact on India.

 

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Celebrities such as Sachin Tendulkar and AyushmannKhurrana have also joined the celebrations.

But not all of them seem to know exactly why they are celebrating. Amitabh Bachchan and Shah Rukh Khan, for instance, could do with the Beginner’s Guide to the GST.

While some continue to scrutinise and discover the effects of the GST on the various sectors of the economy

the general sentiment seems to be positive.Amidst the celebration, however, people couldn’t help but play politics and pit the BJP, Congress and AAP against one another.

Though it started with a lot of confusion and mixed reactions…

things have turned around.

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Over all it looks like GST is here to stay. The bill is still to be approved by Lok Sabha but we all know where it’s heading. To know more about GST bill read this.