Search This Blog

Search Engine

Custom Search


What is GST?

Definition as per a YOU tube video by Pallavi Joshi


Photo Source - By CA Gaurav Gupta (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Suppose it is your birthday
Neighbour friend asks for chocolate and you give him one chocolate
Later after reaching school, security guard comes to know about your birthday and wishes you Happy Birthday and you give him one chocolate
Later in classroom teacher announces your birthday so you distribute one chocolate to each classmate.
Ultimately your neighbour who is also your classmate gets double chocolates.

Birthday = Your business
Distributing chocolates = paying various existent taxes
Giving double chocolates to Neighbour = paying surcharge

Now what is GST?
It is like you are not authorised to distribute chocolates to everyone.

Simply deposit your chocolate bag to Principal and he will take care to distribute it further.
That means pay a central tax and forget everything else.

Why do some people oppose it?
People like your neighbour who is getting double chocolates is opposing it.
But overall GST is in benefit of all business class people.

No comments: