A step in the right direction which has been hailed by most economists ..There is a lot happening in financial circles, a tightening of the economy to plug black money which are very good initiatives by the present day gvt. The general opinion is that the efficiency levels have increased tenfold compared to what it was before. 

The GST will cut down large number of taxes imposed by the Central Government. It goes without saying that it leads to creation of Unified Markets. Other benefits of GST are exports will increase. However, Its a  good step taken by the Central Government, Further, GST will give more money to under- developed States

usha manohar wrote:

A step in the right direction which has been hailed by most economists ..There is a lot happening in financial circles, a tightening of the economy to plug black money which are very good initiatives by the present day gvt. The general opinion is that the efficiency levels have increased tenfold compared to what it was before. 

Level of corruption also come down with increased of efficiency level.

anil wrote:

usha manohar wrote:

A step in the right direction which has been hailed by most economists ..There is a lot happening in financial circles, a tightening of the economy to plug black money which are very good initiatives by the present day gvt. The general opinion is that the efficiency levels have increased tenfold compared to what it was before. 

Level of corruption also come down with increased of efficiency level.

On the whole, it's a people friendly measure. Already Lok Sabhapassed it. Now the Rajya Sabha has to pass.

rambabu wrote:

anil wrote:

usha manohar wrote:

A step in the right direction which has been hailed by most economists ..There is a lot happening in financial circles, a tightening of the economy to plug black money which are very good initiatives by the present day gvt. The general opinion is that the efficiency levels have increased tenfold compared to what it was before. 

Level of corruption also come down with increased of efficiency level.

On the whole, it's a people friendly measure. Already Lok Sabhapassed it. Now the Rajya Sabha has to pass.

Rajya Sabha passed it.

rambabu wrote:

anil wrote:

usha manohar wrote:

A step in the right direction which has been hailed by most economists ..There is a lot happening in financial circles, a tightening of the economy to plug black money which are very good initiatives by the present day gvt. The general opinion is that the efficiency levels have increased tenfold compared to what it was before. 

Level of corruption also come down with increased of efficiency level.

On the whole, it's a people friendly measure. Already Lok Sabhapassed it. Now the Rajya Sabha has to pass.

The bill is already passed by Rajya Sabha and has got President's assent. Most states have also endorsed the bill. GST council has been formed. This thread has been started only after these developments. 

I think the prices will also be reduced because of this single tax system. So it should be a good news to all consumers, but since the tax rate is not yet fixed,  we need to wait and watch how it comes out

Too much is being expected from GST. It is a tax unifying measure and helps to streamlining the collection process. Its efficacy will be dependent on the cooperation of the business community and government officials. How it lead to change in attitudes is not clear. 

Members please wake up- you are looking at just one face of the coin but the fact is the service tax will go up (the rate is unknown yet) which is applicable on most items. The over all result will benefit the governments but the people in general will have to pay more on most items.

"One Nation One Tax" is the motto  of the GST, which will reduce taxes and introduce ease of Business. according to Finance Minister Arun Jaitley.

Some benefits and advantages of GST are, Revenue will get a boost, investment boost, Logistics, inventory cost  will fall.