Along with corporates, the burden has been outsourced to individuals as well. For example, an individual is responsible for TDS and submitting TDS in house rents that they pay!!
@libshastra
7 ай бұрын
That’s always been the case. Even in Vajpayee’s time it was the same. Only difference is enforcement.
@saurabhjain5128
7 ай бұрын
Really nice point which you have raised. But it is true for all businesses who have GST registration(TO above 40 lakhs). If supplier is not paying tax on time it mustvbe the duty of law enforcement agency and not the tax payers
@agytjax
7 ай бұрын
For the critics who argue in favor the govt pushing the tax collection burden on companies, who is gonna refund the time and energy invested by the businesses in following up and educating their suppliers to file their GST ? Not to mention the loss of productivity of the businesses. If the govt. needs the tax money, it better brainstorm and seek ideas from people and intellects alike on how to implement the process of tax collection effectively. I am not blaming any party - all parties have been guilty of not innovating in the front of tax collection. It is not sufficient if we aspire to become a "developed" country. The govt. of the day also need to think and act like a developed country's govt. No doubt, citizens and businesses also have a big role to play in it. However, pushing everything on the citizens is a sign of the govt. eschewing all its responsibilities and taking the easy way out!
@RaghavendraLawaniya
7 ай бұрын
Large companies are holding 25% payment against GST filling to their vendors and when the ITC is reflected they pay the GST, this leads to cash crunch with the MSMEs as generally the profit margins are in the tune of 8 to 15% and the payment cycle is 60days, so essentially govt made it's job easier then Large corporates made their job easier and then onus of compliance came directly to MSME. Which is Ironic as the govt is trying to promote MSMEs at the same time not thinking through the regulations before implementing.
@abhiwins123
7 ай бұрын
Almost most big large companies are running business on vendors and suppliers finances
@agytjax
7 ай бұрын
Sign of a lazy and inefficient bureaucracy and policy makers.
@sanuagarwal8618
7 ай бұрын
Before 2016 there were Vat CST service tax and excise and excise return used to take hell lot of time and understanding....GST if followed correctly is simpler and easier than all mentioned above....Tax exemption bin income tax went from 2.5 lac to 7 lac and for companies 30 per tax went to 25 per
@letsthink1991
7 ай бұрын
Ask any small companies how much they have to spend on compliance related matters compared to before and you will how they are suffering because of this. Increased compliance cost, delayed receipt of ITC leading to working capital getting stuck, fear of tax notice is all leading to many small companies shutting down their operations. This also has a cascading effect on inflation and also has killed many a jobs and with time if small companies do not open back then soon big companies will have no other recourse but to import leading to increased CAD. GST has been a disaster. Not only has it killed those at the bottom but also made states beggars at the mercy of the center.
@sanuagarwal8618
7 ай бұрын
@@letsthink1991 Give me their files and they won't be stuck....First of all non compliance are in blood of Indians ....No manufacturer used to file excise return secondly there is composite scheme for retail units thirdly go and check what state used to receive before GST and now .......if you know how to file gst it takes 15 minutes to file a return and if you want to rob than it's a issue....you will receive notice of there is a difference between 2a and 3b or 1 and 3 b but you want to purchase in white and sell in black there will be difference
@x_man007
7 ай бұрын
5 lac to 7.5 was a lolipop 🤣
@banditonehundred
7 ай бұрын
If only they found a way to tax land lords, who are the biggest tax evaders
@sreenathgopinathan4002
7 ай бұрын
They have to increase GST . Charge 28 % GST for all items which are at 5% and 18 % slabs at present Also introduce 28 % GST for electricity which is at Nil percent
@sreenathgopinathan4002
7 ай бұрын
And there after, if GST improves substantially, after that, reduce direct taxes , income tax and corporate taxes. Highest slab should be made 20 percent. Tax evasion can be reduced if Income tax and corporate tax rates are lowered to 15 % or 20 % max
@nm5269
7 ай бұрын
And the reach farmer also. Some people show that they have done farming over the roof and ear lakhs of rupees.
@libshastra
7 ай бұрын
State govt need to step up.
@sreenathgopinathan4002
7 ай бұрын
Govt of India need to step down in terms of Direct taxes
@kevindsz
7 ай бұрын
20% TCS on the LRS is one of the most absurd thing this Govt has done.
@Apache1970
7 ай бұрын
That's still 1000 times better than 18 % GST on health insurance, which is the most evil thing to be done by a democratically elected government. Healthcare is publically funded in most democracies here the government is taxing healthcare and expects the middleclass to die at home.
@jayeshpathade8320
7 ай бұрын
So true, its a nightmare. Many times the GST becomes a big liability.
@mohitanand1844
7 ай бұрын
Modi fans basically worship him .they wont listen .we are doomed
@rr-ri3ki
7 ай бұрын
1. The farmers protesting are not farmers but agenda driven part time politicians supported by Punjab Govt. 2. You don't understand business. Companies do not change suppliers frequently. That's why we have SCM. For any company there are a fixed set of suppliers Hey all your arguments are absurd...I did not watch your video fully
@aviralrastogi9822
7 ай бұрын
One of my known who engaged in the construction industry told me if someone is applying for tender they have to pay on final boq (18%gst) & other tax on its fees . It's vicious cycle
@arunrao487
7 ай бұрын
What else do you think "less Government and more governance" means?
@rgopalakrishnan1975
7 ай бұрын
Fallacious argument @Print. Companies decide, on their free will, who their suppliers (friends) will be not the government. If they make bad friends who don’t file tax returns, you can’t blame the government. Trust is an outcome in a bilateral relationship - husband/wife, company/supplier, employer/employee and not a function of the SHO.
@sumanpaulchowdhury8333
7 ай бұрын
Actually some of the drawbacks you’re talking about is the reason for making such an environment, so that you can make maximum people compliant…otherwise, it will remain the same. It will take some time to regularise everything. As an individual tax payer the process of getting refunds has become easier after few years of hiccups, though I am not a fan of such a big tax burden on the salaried class, but, still there is visible changes on the ground with our tax money, unlike, previous era. And that’s the reason people are still not so angry with the government. Once they lost the track…surly people will change the government.
@pradipkumarmitra7412
7 ай бұрын
Nobody has forgotten when a journalist of high stature urged all fellow journalists to write canards and lies about Modi Government!!!
@agytjax
7 ай бұрын
@pradipkumarmitra7412 - Who are you referring to ?
@annapoorni1
7 ай бұрын
Bang on. Since govt has the power it can do whatever it wants. Small companies have to lump it. Also, crow about ease of doing business 😂
@abhinav05252
7 ай бұрын
This is how journalists do, criticism and yet constructive while giving credit to govt where due.
@nm5269
7 ай бұрын
Thanks to farmer protest again 😂 then this idiots will call others Bhakt 😅
@mohanrao5844
7 ай бұрын
You are completely confused
@skarumuru
7 ай бұрын
Preaching , not objective
@SureshKumar-xc8up
7 ай бұрын
Gud information
@dkq986
7 ай бұрын
20% TCS is absurd!! Stupidity at its best. People don't travel not just for leisure, people travel for business as well. Tracking everything during work trips are extra headache. Sometimes I wish I was not born in this country
@thunrou
7 ай бұрын
One solution go to phukistan
@ramumartha3968
7 ай бұрын
Great Analysis Sharath
@x_man007
7 ай бұрын
Tax payers r like tax bhi do or tax bharne ki mehnat alg😅
@ashishwani87
7 ай бұрын
TCA's are my next favorite videos on The Print after SG's. Thanks for the crisp and informative content.
@jaypenmatcha7457
7 ай бұрын
I think Govt should provide system to make tax complains easy (e.g. using blockchain to make it easy for matching supplier tax vs input GST). But making companies is right approach in India context. IT staff is incapable of collecting tax, so companies doing is better approach.
@kallachi729
7 ай бұрын
The premise of this argument by TCA unfortunately is that it is the “right” (or okay) for tax payers to default as they have been doing repeatedly for decades prior to the GST regime. Loss of revenue is as usual on the account of the Government.. TCA and experts should address and educate taxpayers to comply….. the media does not address tax payers to comply….. is that a “liberal” (always self defeating) attitude attitude or is that for TRP. Tailpiece: Nobody (read media) tells The bike rider to wear helmet…. If the fines are increased Government is autocratic… if the youth dies, the government is responsible..It is time to cut the crap. Let us see the print take the lead in asking citizens to be compliant. Stop mollycoddling the public. Let them do their bit for Nation building. Rome was not built in a day.
@agytjax
7 ай бұрын
This is a lazy argument on behalf of the bureaucrats and policy makers. For starters, who is gonna refund the time and energy invested by the businesses in following up and educating their suppliers to file their GST ? It is the govt. that needs the tax money, it better brainstorm and seek ideas from people and intellects alike on how to implement the process of tax collection effectively. I am not blaming any party, all parties have been guilty of not innovating in the front of tax collection. It is not sufficient if we aspire to become a "developed" country. The govt. of the day also need to think and act like a developed country's govt. Citizens also have a big role to play in it. However, pushing everything on the citizens is the govt. eschewing all its responsibilities and taking the easy way out
@kallachi729
7 ай бұрын
@@agytjax True… argyle…my point is those involved in building the Nation, including small businesses should pay up and learn to report in time…. If 10 can do it, 1000s can do it…. I have been watching for five years as an involved party…. Those who mollycoddle the public are adopting the lazy path Stay well…
@sajalkumarmandal6659
7 ай бұрын
make a video for black paper and white paper 🗞️📜
@sureshgs740
7 ай бұрын
Good presentation.
@mohansunderrajan2401
7 ай бұрын
The GST process is most painful . In 2018 my CA paid gst but filled under wrong account . Now I get notice from gst to pay the amount with interest . I told them the money with you in other Acoounts they said yes you first pay and claim refund . What a way to harrass . Now if you do not pay they freeze your bank
@libshastra
7 ай бұрын
You’re CA made the mistake and it’s the govt’s fault. Waah. Of course the Govt will ask you for your dues - because of your CA, you haven’t paid up. Govt is right if they freeze your account.
@atultandon66
7 ай бұрын
Very immature interpretation.
@DileepKumar-qt9nd
7 ай бұрын
Once again amazing❤
@PrajwalDSouza
7 ай бұрын
This is not good if we look at what's happening in the US.
@puggleski6097
7 ай бұрын
Corporate tax evaders have brought this calumny upon themselves by ( ironically enough ) voting the BJP in, perhaps misled into thinking that RW in India is the same as RW in the US, i.e. 'small govt', more pvt sector participation, 'unimpeded' lobbying etc etc. Each of these outcomes has in some way hit the pvt sector with a set of unforeseen consequences. Each of these outcomes has made it just so much easier to just file returns instead of fudging figures as the checks and balances in the hands of the govt have increased while govt workload has been cut consuderably. The golden rule is still this : be careful what you wish for.
@divyatiwari9946
7 ай бұрын
Its a great move by the government, best governance is that matkets and society manage governance with minimal direct scrutiny by the government. Cost of scrutiny is also less when a buyer manages it's vendors directly instead of government hunting down every small guy.
@Medleri
7 ай бұрын
Finally someone talking about this. In fact there should be a PIL asking government to pay the private sector for doing what is essentially the government's job. Else government should be asked to wind up it's tax departments and outsource all tax collection to the private sector. No wonder international companies prefer to invest in Vietnam, Thailand etc rather than coming to India.
@sjgghosh7677
7 ай бұрын
What about income tax filing? Should govt give us money for filing our income as well?
@Medleri
7 ай бұрын
@@sjgghosh7677 yes very much. Considering that personal tax laws are so complicated and confusing that one needs to pay a tax advisor to even identify the correct form to fill, leave alone completing it correctly. So many individuals have to file returns even without having a tax liability. So government should pay all of them.
@sjgghosh7677
7 ай бұрын
@@Medleri the thing is it's a duty u have to do if u want to live & earn here. Simple....sure, we can ask the govt to simplify it as a democratic country but if they haven't done it yet, it means the citizens of this country have chosen the wrong people for the past 75 years or simply majority don't care/want it to happen. Anyway, I think currently the tax system is quite good, u can easily file for return online, unless u have done something wrong govt officials rarely harass u. The only bad thing is that u have to do a lot of searching to save on tax, other than that if anyone doesn't care about tax exception it's quite easy now actually.
@sanjaykumardavid2365
7 ай бұрын
Guys,Nobody is picking up the fact that the consequences of demonitisation plus move towards big business and pli have an impact on inflation. Inflation is the tax. Ex Mobile PLI for assembly has pushed up USD DEMAND. This worsens our Balance of Payments and Exchange rate. Hence a dearer USD leads to an increase in our overall import bill making everything purchased at a higher rate more expensive...impacting inflation. High level wrong decisions are killing our economy and the poor.
@sumanpaulchowdhury8333
7 ай бұрын
So, what’s your solution? Don’t encourage making anything technologically advanced in India? As a country with very poor technology infrastructure we surely need to outsource things for manufacturing. Otherwise, how can we even progress in the long run? Please explain….what’s the alternative way out.
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