GST RATIONALISATION - 787

The GST RATIONALISATION announced by the Finance Minister Nirmala Sitharamanji , which was brought about in consultation with the GST Council Members of which our own Esteemed State Finance Minister Thiru Thangam Thennarasu is a Member is a very big step to address the shortcomings of the last 8 years . 

The same was announced by our PM Modiji during his Independence Day Address to the Nation . 

The timing makes this even more interesting as  it comes in the wake of the steep increase in Tariff announced by you know who . The long festive season which kicks off with the onset of the Navarathri Festival on Sept 22 and and a huge spending spree will put more money in the hands of every single Family or Person,

  

This coupled with the Income Tax Exemption up to close to RS 6 Lakhs per Year is sure to put more money in the hands of the public at large .

A very conservative estimate suggests that there are 350 Million Households in India from Vickramasingapuram  to Dehra Doon or Kutch to Guahati .

The first thing that will loom in the minds of many is : IS THE REDUCTION IN THE FOUR SLABS OF 5 12 18 AND 28 % TO JUST TWO OF 5 AND 18 % WITH THE INSURANCE AND CERTAIN SECTIONS OF THE MEDICINES AT ZERO PERCENT going to translate into direct benefits for the common man .

My answer would be to keep your eyes open and demand a Receipt for any purchases that you make . If the local ANNACHI KADAI expresses his inability to do so , what stops you from boycotting him and choosing a store where this facility is available . 

Suppose , let us just suppose  that a Lower Middle Class family now spends totally  RS 30000/- on various purchases in a month at ; 15000 RS at 5% , 8000 Rs at 12,% , 5000 RS at 18% and 2000 at 28 % . This will add up to 

RS ( 750 + 960 +900 + 560 ) = RS 3170 as GST IN A MONTH .

After Sept 22 nd I am assuming they spend the same RS 30000 at  5% for 25000 RS and Balance 5000 RS at 18 % , this will add up to 

( 1250 RS + 900 RS ) = 2150 RS .

RS 1050 Savings in every household in the Country .  At 350 Million Households having Extra 1000 RS per Month will generate astronomical figures at the National Level at the end of  Each Year .

BHARAT MATA KI JAI