Rahul Mehta Gandhinagar LsCandidate

How / Why black money will generate again
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(1) say X goes to Y to buy goods. If he buys via cash or bitcoins or dollars or gold or silver, then price will be Rs X and if he buys via cheque or plastic then price will be (Rs X + 20% GST + 30% of profit Y makes) . So there will be several X who would prefer to pay using BitCoins, cash, dollars, gold, silver etc So black money will regenerate
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(2) say X has to his employee Y Rs 10000 per month salary. Then X wll write cheque of Rs 15,000 and to Y and ask Y to give Rs 5000 cash back !! So again black money will generate
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(3) Ministers, IPS, IAS, judges etc will resume regular bribe collection by jan-2017. So again black money will be ngenerated
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There are 10 other sources
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IOW, all sources which are present today, which convert white into black will function as same rate starting jan-2017.
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So black money will be back to its level within 1 year to 2 years.
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Solution is to publicize land ownership data, make deemed auction on sale of land and impose (wealth tax minus income tax minus electricity tax minus 15% of salaries paid), and remove VAT / GST / Excise / ServiceTax
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Ending cash will now increase role of bitcoins, dollars, euro, gold and silver.
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People will now put more faith in Pakistan's Rs 500 then India's currency !!!
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I wont be surprized if people in India start massive use of BitCoins or Dollars or Euro. And people in JK may even start using Pakistani rupees.
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