Rahul Mehta Gandhinagar LsCandidate
GST will make accounting simple - says SoMoKe and congress / rss / aap workers. Then why is Centraol Govt training 500,000 youth for GST accounting?
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GST seems to be a NAREGA for accountants.
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With GST, excise \ vat \ service tax \ local body taxes and entertainment tax, octroi etc are all gone. So lakhs of CAs and non-Chartered-accountants who were previously working on excise , VAT , service tax etc can now work on GST
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And GST is "simpler". Plus GSTN should make all accounting much easier. And there are 10s of GST software to do things more simple.
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So we should be having a surplus in accountants.
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But Central Govt wants to train some 500,000 more youth in GST accounting !!
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All in all, GST , compared to wealth tax, is a nightmare for small / middle manufacturers and traders. The accounting costs and accounting mess will shoot up. Same for big business, but big businesses will manage for a while. But their efficiency too will drastically decrease compared to businesses in USA, whcih dont have to face GST
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Solution I propose is to cancel GST nonsense and instead use Wealth Tax. . Pls see my previous posts on wealth tax for more details on proposed wealth tax.
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- https://www.financialexpress.com/economy/ministry-of-skill-development-and-entrepreneurship-to-train-5-lakh-graduates-to-be-trained-for-goods-and-services-tax/764978/
- https://external-hou1-1.xx.fbcdn.net/emg1/v/t13/10484667107626150102?url=http%3A%2F%2Fimages.financialexpress.com%2F2017%2F07%2Frudy.jpg&fb_obo=1&utld=financialexpress.com&_nc_sid=632586&_nc_ht=external-hou1-1.xx.fbcdn.net&stp=c0.32.660.345a_dst-jpg_flffffff_q75_s500x261_tt6&ccb=18-1&_nc_gid=Uh_2o9VZTPfvE9BFHkhvbQ&_nc_zt=3&oh=06_Q3_DAY9TRFh_bQO55P1UTLFyqHfZHRiAfz1T7JGJzHFL4lFn&oe=6AC2DC95