PM Modi along with the support of his highly cunning party members has implemented GST on 01st July 2017 with the hope that the graph for revenue collection will move upwards and the loops and gaps which the earlier system carries will be vanished with traders and businessman left with no option than to pay tax in accordance with the laws framed by the union government.
It is still afresh in our mind that how the government faced resistant not only with the other political parties but also with various small sections of traders and entrepreneurs with accusing government of being anti towards them and becoming the cause of shutdown of various small business. First few months in the country went with agitation and unrest in various parts of the country with people and parties doing mass meeting and planning against the government for the steps taken. The oldest party Congress under the leadership of Mr Rahul Gandhi was doing rebel in its own unique way with accusing BJP in every instances.
Various news channel started different broadcast and debates to raise there Television Rating Points (TRP) with people called from different parties but at the conclusion nothing beneficial could be derived from the discussion. I would not even call it a discussion rather it was something mode of passing time for the people who don't have moral values within them and just speak illogic to come in limelight and gain popularity.
Government Estimates On Revenue Growth
https://www.businesstoday.in/current/economy-politics/gst-effect-govt-tax-collection-gets-a-bumper-start-indias-first-gst-revenue-of-rs-92-283-crore-explained/story/259282.html
If the data provided by the government in the above link is to believed then government has collected the revenue higher than that estimated but how much the figures are tampered is still unknown and no RTI has being filed in regards to the authenticity of the facts published.
The estimates that government has highlighted is roughly around 92,283 crore against the expected figure of 91,000 crores and this figure is likely to go up when all the tax payers file there tax return.
Collections Track
It is quite obvious to ask that if everything is going on track than where is the lag and where is the loop? There is a marginal dip in revenue collection from GST. There was a marginal dip in January from December 2017. The month of October and November 2017 saw a decline.
Also, in order to meet the stakeholders need the government has reduced the rates on various items and introduced the composition scheme for dealers having turnover up to Rs 1 crore plus many services are exempted from the per-view of GST.
Where is the Lag?
Practical situation is far more different from the one which we have thought of. At the time when the new tax regime is undergoing implementation none of us would have thought that the Chanakya of indian street will find a way out. If you go on practicality the fact is that the accepting of cash and trading on kutcha bill is prevalent across various indian street. Whether it is a cloth merchant or jeweler, whether owner of marriage hall, or person running catering business, everybody is boycotting the digital mode of payment by scaring there customer of unnecessary extra cost. Further, the customer who is already pressurized under the inflation try to save even the single penny from wherever possible.
The markets of Old Delhi, Chandni Chowk, Chawri Bazar are such where there are numerous numbers of small traders who are dealing in large scale with escaping the tax payment. The government should look after these grey areas so that such un-trade practices that are prevalent across should be stopped and the liability to pay such tax should vest with shopkeeper or merchant rather than imposing the tax burden on consumer itself.
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