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In this video, The Lallantop's Kuldeep Mishra explained the dichotomy of GST. GST was implemented for two reasons. The first is the One Nation One Tax. Over the period, the promise could not be fulfilled completely because many products and services are outside the spectrum of GST Diesel and Petrol. The second reason to implement GST with 5 different tax rates was to tax essential goods and services at a lower rate while taxing luxury goods and services at a higher rate. Still, crucial services like Education and life insurance are in the 18% GST tax bracket. 18% tax is also imposed on Water parks, theme parks, etc. Opposition leaders protested in the Parliament against this dichotomy. In this context, Kuldeep explained,
- How many essential goods and services are under high tax brackets?
- Who bears the real baggage of GST?
Watch the video to know more.
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Produced By: The Lallantop
Edited By: Asad