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Frank Appel, CEO, Deutsche Post DHL has been interviewed recently by an imminent newspaper firm to understand the emerging impacts of GST. Mr. Frank was open to say that the Asian countries will be ones who will grow faster than the developed countries at a consistent rate and not with a overwhelmed double-digit pace.
GST is an online paradigm of taxation being hyped for its overly and absolute solution in the field of aggregate taxpaying community. The central government is still in the dark for the issues which might consume the objectives of the new taxation regime. As subjected towards the concern, poor and unstable internet connection is turning out be a problematic issue within the authorities and GST expansion plan.
The Indian government seems to have a difficult time coping up with the internet faults and the failure to deal with the pressure and load of average 3.5 billion of invoice per month would demand a humongous IT structure solidarity from the authorities for which the government has not prepared at all.
The major revenue department CBEC is tensed and also gearing up for a better and far reaching campaign regarding the migration of taxpayer into the GST. The department is pleading to the taxpayers for migration into GST by end of this month in order to avoid any issues later on.
Recently after a big disruption caused by a fraternity of MLA’s in the Rajasthan assembly, which evoked the speaker and other head ministers to suspend them for initial one year, the assembly has been finally able to pass the state goods and service tax successfully.
According to the media sources, today Finance Minister Arun Jaitley has promised that not to spring any surprises in fixing the taxation rates under the execution of new GST law, and also said that they will not be significantly different from the current levels.
Rajasthan soon will get the real feel of Goods and Service Tax (GST), as a beta launch of the software has been announced from May 1. For this, a simulation centre has also been developed in Jaipur city, where real-time data will be analysed for any loopholes and to strengthen the technology.
The government has urged the businesses to register themselves online for GST instead of seeking external agencies or third party services after the GST registration expiry on April 30.
The government is in deep confusion ahead of goods and service tax as for fitting various services across the nation into a fruitful tax slab along with the categories including logistics and transportation which are expecting a lower application of taxes while compared to the current 18 percent spread across on several another kind of services.
