With a month under the GST era the economy continues to stand tall on its feet. However, price hikes here and there still remain the major issue of discussion for the eking Indian Households….
With multiple tax rates slapped in the name of Government and State united fronts, the Indian households have found their own ways to adapt with the mercurial design of the economy. Taxation for the common people took its toll when items of daily use started costing a little above the conventional marks. Initially, the difference was merely significant. However, with heavily priced commodities the case becomes a bit critical.
Tax charges of 18% seem to be working fine for the people till now. Food subsidies and ration fall in the aforesaid category. Its more about the imported products which are placed in the infamous 28% bracket. These items are being taxed at an abnormally high rate as per most of the teenagers. Given the rise of the technological market the domains have become more inter-related. Importing these goods seems only the right option due to a lack of manufacturing establishments. Furthermore, import duties being included make these devices charge even more, causing trouble for the youth interested in the branded markets.
Not only the 28% mark, the 12% mark has also gained attention in the public eye lately. The main reason for this is the small scale vegetable markets. With almost no scope of bargaining under the GST regime, local venders and sellers have raised prices in order to keep pace with demand. Too bad for the ‘bargaining queens’!
However, with higher taxation in the process the distribution of money seems to have become balanced. As proposed by the model, the funds would be distributed equally by executing a bottom to top approach, the method seems to have come a long way. The idea of accumulated wealth among the individuals is slowly coming to an end and helping the poverty stricken in the form of Governmental schemes and magnanimous loans.
Firing the GST council with petitions and questions displays a lack of pragmatic approach. With government bodies working round the clock on the subject, a subtle supporting aura would only help the people of the subcontinent.